As President Donald Trump continues to fume over Federal Reserve policy, a new report finds inflation is up, while consumer spending and income are down.

While the consumer price index is more commonly known, the Fed relies heavily on the PCE for deciding its stance on monetary policy. At the moment, the Fed is keeping interest rates high – and borrowing costs for consumers elevated – as it wants to see more data on how President Donald Trump’s import tariffs are affecting inflation.

Food, beverages and tobacco were the main drivers of June inflation, contributing 0.13 percentage points to the monthly figure. This was primarily due to higher prices for rice, which added 0.04 percentage points, along with bird’s eye chili, shallots and tomatoes.