U.S. consumer price gains slow but inflation still hot

U.S. consumer price growth slowed sharply in April as gasoline prices eased off record highs, suggesting that inflation has probably peaked, though it is likely to stay hot for a while and keep the Federal Reserve's foot on the brakes to cool demand.

That aspect was reinforced by the report from the Labor Department on Wednesday, which also showed underlying monthly inflation pressures building up again after a brief lull in March as airline tickets prices notched their biggest increase on record. Rents rose by the most since 2006.

"The...