The U.S. economy slowed in June and early July, while price pressures were elevated, with some manufacturers planning to charge more for goods, according to a report released today by the U.S. Federal Reserve Board.

The Fed’s summary of economic activity, known as the beige book, is based on information collected through July 14.

“Reports from the 12 Federal Reserve districts suggest that the pace of economic activity slowed somewhat since the last report,” the beige book said.

All districts characterized overall price pressures as elevated or rising. Input prices continued increasing, particularly for fuel, other petroleum-based materials, metals, food, and chemicals, the beige book said.

“Many districts reported on manufacturers’ plans to raise selling prices as a result of higher input prices, with several commenting on fears of a corresponding decrease in customer demand and overall sales volume,” the beige book said.

Spending by consumers was reported as sluggish or slowing in nearly all districts, but tax rebate checks boosted sales for some items. Tourism was mixed.

Manufacturing activity declined in many districts but demand for exports remained generally high. Residential real estate markets fell or were still weak across most of the country. Commercial real estate also slowed or remained sluggish in most districts.

In banking, loan growth was generally reported to be restrained, with residential real estate lending and consumer lending showing more weakness than commercial lending. Agricultural conditions were reported as mixed. The energy sector kept getting stronger.

Despite elevated price pressures, retail price inflation varied across the nation, with some districts reporting increases but others noting some stability, the beige book said.

Wage pressures were generally limited in most districts, as labor market demand was soft, the beige book said.

Fed policymakers are next scheduled to meet August 5. Uncertainty over the economy and inflation suggests to analysts that the central bank will again leave interest rates unchanged.