Episode Details

Statistics Canadas March inflation numbers are set to rise, with economists predicting a 2.5% annual rate, largely due to surging gas prices from the Middle East oil shock. A Reuters poll supports this, attributing the increase to the Iran conflict. However, the federal governments decision to scrap the consumer carbon price last year has helped mitigate some of the year-over-year pressure. While the increase is noticeable, its primarily due to a short-term supply issue rather than broader price escalation. The Bank of Canada plans to monitor the situation and only intervene if higher fuel costs persist and contribute to wider inflation. Updated economic forecasts will be released alongside their next interest rate call on April 29th.

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