Canada Inflation Jumps to 2.4% Driven by Gas Prices

Canada's inflation rate experienced a notable surge, reaching 2.4% in March, primarily driven by a record increase in gasoline prices attributed to the Iran war. While the overall inflation figure came in slightly below economists' expectations, the sharp rise in energy costs signals persistent inflationary pressures. This increase impacts consumer spending power and may influence future monetary policy decisions by the Bank of Canada. The situation highlights the vulnerability of the Canadian economy to global energy market fluctuations.