Middle East conflict, oil energy crisis contributing to rising inflation in Canada: StatCan

VIDEO: The war in Iran may be thousands of kilometres away but it’s impact on the global economy is being felt right here at home. In Canada, rising energy costs especially gasoline, pushed the annual inflation rate up to 2-point-4 per cent just last month, compared to 1-point-eight per cent in February. Gas prices surged sharply during March due to supply disruptions linked to the conflict with Iran, driving much of the increase in headline inflation. As a result, Canadians are also seeing higher costs for transportation and food, with grocery prices, particularly fresh vegetables continuing to climb.