Canada Inflation Jumps to 2.4% as War Drives Up Gas Prices

Canada’s inflation rate surged to 2.4% in March as the Iran war triggered a record increase in gasoline prices, though it came in slightly lower than economists expected.

Headline inflation was projected to quicken to 2.6% last month, up from 1.8% in February. Excluding gasoline, the consumer price index was up 2.2% from a year earlier.