OTTAWA – A two-week ceasefire has been announced in the Middle East, though reports of continued fighting and uncertainty remain, according to a CBC News broadcast.

Rising Fuel Costs and Food Inflation

The United Arab Emirates has intercepted 17 missiles and numerous drones since the ceasefire announcement, with Kuwait and Bahrain also reporting attacks, stated Meena Al-Oraibi, editor-in-chief of The National. Despite the ceasefire, experts believe gas prices are unlikely to return to pre-war levels in the near future. Senior economist Art Wu of BMO Capital Markets indicated that while some relief at the pumps is expected, the ultimate impact depends on the full resolution of the conflict and the opening of the Strait of Hormuz.

Gas prices in Ottawa are currently 185.6 cents per litre, approximately 30 cents higher than last month. Consumers are feeling the financial strain, with some reporting fill-ups costing $80, up from $65 previously. The conflict is also driving up food prices, particularly for imported produce, meat, and dairy. Munther Zade, owner of Winnipeg grocery store Food Fair, explained that fuel surcharges from shippers and suppliers are being passed on to consumers. He cited a recent price increase on a two-pound bag of onions, rising from 75 cents to $1. The price of diesel has jumped 40 percent since the war began, impacting the entire food supply chain.

Experts suggest that buying local, seasonal produce as the Canadian growing season begins could help mitigate rising grocery costs.

Political Developments in Canada

In Canadian politics, Liberal ranks in the House of Commons have grown with the surprise floor-crossing of long-time Ontario MP Marilyn Gladue. This move brings the Liberals within one seat of a majority, ahead of three upcoming federal by-elections. According to CBC’s Karina Roman, AI Minister Evan Solomon admitted to being involved in efforts to persuade Gladue to join the Liberal party.

Prime Minister Mark Carney praised Gladue’s collaborative approach and experience. However, Conservative leader Pierre Poilievre criticized the move as a “backroom deal” and called for Gladue to face voters in a by-election, referencing her previous statements supporting such a measure. Gladue herself stated that her decision was based on seeking serious leadership and a plan for Canada’s future. The Bloc Québécois leader, Yves-François Blanchet, suggested voters in Terrebonne should vote Bloc to ensure local representation.