Retail sales, consumer prices rise

Washington

US RETAIL sales rose more than expected in June as Americans bought motor vehicles and a variety of other goods, reinforcing views that economic growth picked up in the second quarter.

Other data on Friday showed consumer prices increasing for a fourth straight month in June on rising housing, petrol and healthcare costs, indicating a steady build-up in inflation. The stream of upbeat data and a rally on Wall Street could allow the Federal Reserve to raise interest rates later this year.