Canada's Inflation Rises to 2.4% Amid Rising Gas Prices Due to Middle East Conflict
Canada's inflation rate rose to 2.4% in March 2026, driven by a record increase in gasoline prices linked to the Middle East conflict. The Bank of Canada is monitoring the short-term impact of the oil shock, while traders anticipate a potential rate hike later in the year. Natural gas prices fell, partially offsetting the rise in energy costs.
Topics: Bank of Canada economic impact gas prices inflation Middle East conflict