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With gas prices coming down and food prices perhaps to follow, inflation may be peaking

WASHINGTON (AP) -- After weeks of pain at the gas pump and the grocery store, the worst appears to be over.

Oil prices have fallen, with gas soon to follow. Demand for farm commodities, like the corn used in everything from cereal to soda, has dropped. And businesses remain slow to pass along higher costs because customers aren't getting raises and might walk away.

Inflation may be approaching its peak.

"I think the bulk of the big price increases are over," said Gus Faucher, an economist at Moody's Analytics.

Lower prices -- or at least a break in their steady rise -- will come as a big relief. Consumer prices rose 3.2 percent for the year ending in April, the most since October 2008. Higher food and gas prices drove the gains.
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