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U.S. retail sales falter; inflation creeping higher

Reuters  |  WASHINGTON 

By Lucia MutikaniWASHINGTON (Reuters) - U.S. retail sales fell for a third straight month in February as households cut back on purchases of motor vehicles and other big-ticket items, prompting analysts to downgrade their first-quarter economic growth forecasts.Despite signs of cooling in consumer spending, inflation pressures are steadily building, which should allow the Federal Reserve to raise interest rates next week. Other data on Wednesday showed underlying producer prices rose solidly in February, driven by strong gains in the cost of services such as hotel accommodation, airline fares ...

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First Published: Wed, March 14 2018. 23:32 IST
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