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Prices kept rising in July, but not quite as fast as the month before. The government’s Personal Consumption Expenditures (PCE) inflation report—the measure the Federal Reserve pays closest attention to—showed overall prices up 0.2% from June, easing slightly from June’s 0.3% jump.

Compared to a year ago, prices are still 2.6% higher, the same pace as June.

The bigger story is in core inflation, which leaves out food and energy. Core prices climbed 0.3% in July and are now 2.9% higher than a year earlier, the fastest yearly increase since February.

For households, it means the cost of living is still inching up. For businesses, including restaurants, these numbers signal that inflation pressures haven’t gone away, and the Fed may keep a close eye on them when making future decisions about interest rates.

To read full report from the National Restaurant Association click here.