US inflation hits 2-1/2 year high, seen peaking

``Gasoline and food prices hoisted U.S. inflation to a 2-1/2-year high in April, but there was little sign of a broader pick-up in consumer prices that would trouble the Federal Reserve. The pace of food and fuel price rises slowed considerably from March, suggesting inflation pressures may be peaking.'' -- The Fed gets a bit of a reprieve; but raw inputs prices will continue to work their way into retail prices for quite some time, suggesting no relief for consumers.