A Federal Reserve report on the U.S. economy suggests a slowing in growth since the beginning of the year and upward price pressures.

The Fed today released its beige book, a summary of economic activity prepared for use at the central bank’s Federal Open Market Committee meeting set for March 18.

The report, collecting data from the Fed’s 12 districts, was prepared by the Federal Reserve Bank of Boston. It reflects information gathered between the end of 2007 and the end of February.

“Reports from the 12 Federal Reserve Districts suggest that economic growth has slowed since the beginning of the year,” the report said. “Two-thirds of the districts cited softening or weakening in the pace of business activity, while the others referred to subdued, slow, or modest growth.”

Retail sales in most districts were reported weak or softening, although tourism generally continued expanding.

Manufacturing was seen as sluggish or to have slowed in about half the districts. Several other districts indicated manufacturing was mixed or trends were steady.

Residential real estate remained weak generally. Commercial real-estate reports were somewhat mixed but also suggested slowing in many districts.

“Most districts reporting on banking cite tight or tightening credit standards and stable or weaker loan demand,” the beige book report said.

“Upward pressure on prices from rising materials and energy prices was noted in almost all the district reports,” the report said.

Wage and salary pressures were generally said to be modest, as the hiring pace slowed in various sectors and labor markets loosened somewhat in many districts.