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U.S. retail sales falter; underlying producer prices rise solidly

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, pointing to a slowdown in economic growth in the first quarter.Despite signs of cooling in consumer spending, inflation pressures are steadily building, which should allow the Federal Reserve to raise interest rates next week.Underlying producer prices increasing solidly in February, driven by strong gains in the cost of services such as hotel accommodation, airline fares and hospital inpatient care, other data ...

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First Published: Wed, March 14 2018. 20:06 IST
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