US annual inflation jumped to 3.4 percent in March as the ongoing conflict in Iran triggered a massive global energy price shock.The Labor Department confirmed that the disruption of oil flows through the Strait of Hormuz pushed Brent crude prices near 96 dollars.While housing costs showed signs of cooling, supply chain issues inflated the prices of food and essential materials like aluminum.Federal Reserve officials are monitoring whether a two-week ceasefire will provide enough relief to gas prices to protect wages.