OTTAWA — The annual rate of inflation accelerated to 2.4 per cent in March as the war in Iran sent fuel costs soaring, Statistics Canada said Monday.
That’s a jump of more than half a percentage point from the headline inflation rate of 1.8 per cent in February, though economists had widely expected the March figures to come in a tick higher.
Iran’s move to close of the Strait of Hormuz in response to U.S. and Israeli attacks and ongoing uncertainty over ceasefire talks has sent global fuel prices skyrocketing in recent weeks.
StatCan said March’s 21.2 per cent monthly increase in the price of gasoline was the largest
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