Canada's Inflation Rises to 2.4%

Statistics Canada reported that while food price growth showed signs of cooling, the spike in fuel costs has significantly squeezed household budgets.

The data has complicated the Bank of Canada's upcoming interest rate decision, as policymakers weigh the impact of the energy shock against broader economic trends.

Opposition leaders have used the figures to criticize the government's fiscal management, highlighting that Canadians now face some of the highest food inflation in the G7.

Analysts warn that if the Middle East conflict persists, inflationary pressures could remain elevated through the end of the year.