Consumer price rise in the United States dropped substantially in April as gasoline prices fell from record highs, indicating that inflation has likely peaked, though it is expected to remain hot for some time, keeping the Federal Reserve on the brakes to calm demand.

That point was underlined by the Labor Department’s data on Wednesday, which showed underlying monthly inflation pressures picking up again following a break in March, when airline ticket prices hit their highest level ever. Rents increased by the most since 2006, putting even greater pressure on customers who were already paying more for food and healthcare.

“The country’s issue with high inflation isn’t ended yet,” Christopher Rupkey, chief economist at FWDBONDS in New York, said. “The Fed can stick to its goal of raising rates by 50 basis points in June and July, and there is no reason to move more quickly to combat inflation.”

Last month, the consumer price index rose 0.3 percent, the smallest increase since August, as gasoline prices plummeted 6.1 percent after surging 18.3 percent in March. This was in stark contrast to the CPI’s 1.2 percent month-over-month increase in March, which was the highest since September 2005.

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