ROME (AP) — Canadian and Italian dignitaries on Thursday marked the successful recovery of a photo portrait of Winston Churchill known as “The Roaring Lion," stolen in Canada and recovered in Italy after a two-year search by police.
At a ceremony at the Canadian Embassy in Rome, Italian carabinieri police handed over the portrait to the Canadian ambassador to Italy, Elissa Goldberg, who praised the cooperation between Italian and Canadian investigators that led to the recovery.
The 1941 portrait of the British leader taken by Ottawa photographer Yousuf Karsh is now ready for the last step of its journey home to the Fairmont Château Laurier, the hotel in Ottawa where it was stolen and will once again be displayed as a notable historic portrait.
Canadian police said the portrait was stolen from the hotel sometime between Christmas 2021 and Jan. 6, 2022, and replaced with a forgery. The swap was only uncovered months later, in August, when a hotel worker noticed the frame was not hung properly and looked different than the others.
Nicola Cassinelli, a lawyer in Genoa, Italy, purchased the portrait in May 2022 at an online Sotheby’s auction for 5,292 British pounds. He says he got a phone call from the auction house that October advising him not to sell or otherwise transfer the portrait due to an investigation into the Ottawa theft.
Cassinelli, who attended Thursday’s ceremony, said he thought he was buying a regular print and quickly agreed to send the iconic Churchill photograph home when he learned its true story.
“I immediately decided to return it to the Chateau Laurier, because I think that if Karsh donated it to the hotel, it means he really wanted it to stay there, for the particular significance this hotel had for him, and for his wife too,” Cassinelli told The Associated Press.
The famous image was taken by Karsh during Churchill’s wartime visit to the Canadian Parliament in December 1941. It helped launch Karsh’s career, who photographed some of the 20th century’s most famed icons, including Nelson Mandela, Albert Einstein and Queen Elizabeth.
Karsh and his wife Estrellita gifted an original signed print to the Fairmont Chateau Laurier in 1998. The couple had lived and operated a studio inside the hotel for nearly two decades.
Geneviève Dumas, general manager of the Fairmont Château Laurier, said on Thursday she felt immensely grateful.
“I would like to extend my deepest gratitude to everybody involved in solving this case, and ensuring the safe return of this priceless piece of history.”
Police arrested a 43-year-old man from Powassan, Ontario, in April and have charged him with stealing and trafficking the portrait. The man, whose name is protected by a publication ban, faces charges that include forgery, theft over $5,000 and trafficking in property obtained by crime exceeding $5,000.
Canadian Cultural Heritage Deputy Minister, Isabelle Mondou, left, and Andrea Clark-Grignon, Head of Public Affairs, unveil a photographic portrait known as 'The Roaring Lion', taken by photographer Yousuf Karsh in 1941 of Britain's Prime Minister Winston Churchill, stolen in Canada in 2022, and returned during a ceremony at the Canada's embassy in Rome, Thursday, Sept. 19, 2024. (AP Photo/Alessandra Tarantino)
From left, Nicola Cassinelli, an Italian lawyer and occasional art collector, Canadian Cultural Heritage Deputy Minister, Isabelle Mondou and Ambassador of Canada to Italy, Elissa Golberg, pose next to of a photographic portrait known as 'The Roaring Lion', taken by photographer Yousuf Karsh in 1941 of Britain's Prime Minister Winston Churchill, stolen in Canada in 2022 and returned during a ceremony at the Canada's embassy in Rome, Thursday, Sept. 19, 2024. (AP Photo/Alessandra Tarantino)
Canadian Cultural Heritage Deputy Minister, Isabelle Mondou, left, and Andrea Clark-Grignon, Head of Public Affairs, unveil a photographic portrait known as 'The Roaring Lion', taken by photographer Yousuf Karsh in 1941 of Britain's Prime Minister Winston Churchill, stolen in Canada in 2022, and returned during a ceremony at the Canada's embassy in Rome, Thursday, Sept. 19, 2024. (AP Photo/Alessandra Tarantino)
WASHINGTON (AP) — Inflation likely remained elevated last month as the cost of electricity, groceries, and clothing may have jumped and continued to pressure consumers' wallets.
The Labor Department is expected to report that consumer prices rose 2.6% in December compared with a year earlier, according to economists' estimates compiled by data provider FactSet. The yearly rate would be down from 2.7% in November. Monthly prices, however, are expected to rise 0.3% in December, faster than is consistent with the Federal Reserve's 2% inflation goal.
The figures are harder to predict this month, however, because the six-week government shutdown last fall suspended the collection of price data used to compile the inflation rate. Some economists expect the December figures will show a bigger jump in inflation as the data collection process gets back to normal.
Core prices, which exclude the volatile food and energy categories, are also expected to rise 0.3% in December from the previous month, and 2.7% from a year earlier. The yearly core figure would be an increase from 2.6% in November.
In November, annual inflation fell from 3% in September to 2.7%, in part because of quirks in November's data. (The government never calculated a yearly figure for October). Most prices were collected in the second half of November, after the government reopened, when holiday discounts kicked in, which may have biased November inflation lower.
And since rental prices weren't fully collected in October, the agency that prepares the inflation reports used placeholder estimates that may have biased prices lower, economists said.
Inflation has come down significantly from the four-decade peak of 9.1% that it reached in June 2022, but it has been stubbornly close to 3% since late 2023. The cost of necessities such as groceries is about 25% higher than it was before the pandemic, and other necessities such as rent and clothing have also gotten more expensive, fueling dissatisfaction with the economy that both President Donald Trump and former President Joe Biden have sought to address, though with limited success.
The Federal Reserve has struggled to balance its goal of fighting inflation by keeping borrowing costs high, while also supporting hiring by cutting interest rates when unemployment worsens. As long as inflation remains above its target of 2%, the Fed will likely be reluctant to cut rates much more.
The Fed reduced its key rate by a quarter-point in December, but Chair Jerome Powell, at a press conference explaining its decision, said the Fed would probably hold off on further cuts to see how the economy evolves.
The 19 members of the Fed’s interest-rate setting committee have been sharply divided for months over whether to cut its rate further, or keep it at its curent level of about 3.6% to combat inflation.
Trump, meanwhile, has harshly criticized the Fed for not cutting its key short-term rate more sharply, a move he has said would reduce mortgage rates and the government's borrowing costs for its huge debt pile. Yet the Fed doesn't directly control mortgage rates, which are set by financial markets.
In a move that cast a shadow over the ability of the Fed to fight inflation in the future, the Department of Justice served the central bank last Friday with subpoenas related to Powell's congressional testimony in June about a $2.5 billion renovation of two Fed office buildings. Trump administration officials have suggested that Powell either lied about changes to the building or altered plans in ways that are inconsistent with those approved by planning commissions.
In a blunt response, Powell said Sunday those claims were “pretexts” for an effort by the White House to assert more control over the Fed.
“The threat of criminal charges is a consequence of the Federal Reserve setting interest rates based on our best assessment of what will serve the public, rather than following the preferences of the President,” Powell said. “This is about whether the Fed will be able to continue to set interest rates based on evidence and economic conditions—or whether instead monetary policy will be directed by political pressure or intimidation.”
FILE -American Giant clothing is displayed at the company's showroom in San Francisco, April 17, 2025. (AP Photo/Jeff Chiu, File)
FILE -A cashier rings up groceries in Dallas, Aug. 28, 2025. (AP Photo/LM Otero, File)
