Economy

US Consumer Price Index rose 0.1% in Feb, as expected

Retail sales up 0.1% in February
VIDEO1:5901:59
Retail sales up 0.1% in February

U.S. consumer prices rose at a slower pace in February.

Clothing and housing costs rose last month, while motor vehicle and gasoline prices dipped.

The Labor Department says consumer prices rose 0.1 percent in February, a sharp deceleration from the 0.6 percent jump in January. But the Federal Reserve appears to be poised Wednesday to raise a key short-term rate for the third time since late 2015 as inflation has picked up after running consistently below the central bank's 2 percent target.

Consumer prices have risen 2.7 per cent over the past year. Excluding volatile food and energy categories, prices have increased 2.2 percent.

Several key categories are running above that average. Housing costs have risen 3.5 percent during the year, while the price of medical treatment has climbed 3.4 per cent.