[Oil Prices Surge, Fed's Preferred Inflation Gauge Rises to Nearly Three-Year High] Jinshi Data, April 30 – Data released by the U.S. Department of Commerce on Thursday shows that the rapid increase in gasoline prices has driven the Federal Reserve's preferred inflation gauge—the PCE Price Index annual rate—to rise to 3.5% in March, marking the highest level in nearly three years. The data indicates that the U.S. March PCE Price Index monthly rate recorded 0.7%, higher than February's 0.4%, with the annual rate jumping from 2.8% to 3.5%, the fastest growth since May 2023. The conflict in the Middle East has disrupted oil trade and caused energy prices to spike sharply, which is the main reason for the sudden surge in inflation.