Carney Suspends Gas Tax as Iran War Drives Up Energy Costs

Canadian consumer confidence fell to its lowest level in almost a year as the war in Iran entered its sixth week, driving energy prices higher and intensifying fears of persistent inflation. The deterioration signals weaker household demand and a more cautious spending backdrop, with potential spillovers to inflation expectations and broader market risk sentiment.

Analysis

Canadian consumer confidence fell to its lowest level in almost a year as the war in Iran entered its sixth week, driving energy prices higher and intensifying fears of persistent inflation. The deterioration signals weaker household demand and a more cautious spending backdrop, with potential spillovers to inflation expectations and broader market risk sentiment.