Washington, Jumada II 16, 1438, Mar 15, 2017, SPA - U.S. consumer prices rose at a slower pace in February, the government said Wednesday, as clothing and housing costs rose and motor vehicle and gasoline prices dropped. The Labor Department reported that consumer prices climbed 0.1 percent in February, a sharp deceleration from the 0.6 percent jump in January. The slight increase comes as the Federal Reserve (Fed) seems poised Wednesday to raise a key short-term interest rate for the third time since late 2015. The Fed has kept rates low in the aftermath of the 2008 financial crisis as inflation had been consistently running below the central bank’s 2 percent annual target. However, higher energy prices since September, along with rising healthcare and housing costs, have pushed the consumer measure of inflation above the Fed target. Consumer prices have gained 2.7 percent over the past year. Excluding volatile food and energy categories, prices have increased 2.2 percent. --SPA 21:11 LOCAL TIME 18:11 GMT www.spa.gov.sa/w354431