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The figures show that inflation continues to rise more slowly than many economists expected when President Donald Trump imposed sweeping tariffs in April.

“Starting now, accuracy is getting worse,” Omair Sharif, president of Inflation Insights, said in an Oct. 9 interview, just over a week into the shutdown.

The reading is the last data the Federal Reserve will receive before its key meeting next week, when policymakers are widely expected to cut their short-term rate to about 4.1% from 4.3%.

The core consumer price index, excluding the often volatile food and energy categories, increased 0.3% from June, according to Bureau of Labor Statistics data out Aug. 12.

Inflation rose last month to its highest level in four months as the cost of gas, food and groceries rose, reversing several months of cooling price pressures.

Economists have long been warning of a tariff-driven boost to U.S. inflation. The next report on consumer prices will put their conviction to the test.

U.S. inflation picked up a bit last month as food costs rose, though overall inflation remained mostly tame. Consumer prices increased 2.4% in May compared with a year ago.

U.S. inflation declined last month as the cost of gas fell, a sign that price growth was cooling even as President Donald Trump ramped up his tariff threats.

U.S. inflation slowed last month for the first time since September even as additional tariffs on steel and aluminum that kicked in March 12 threaten to send prices higher.

Inflation accelerated last month as the cost of groceries, gas, and used cars rose, a trend that will likely underscore the Federal Reserve’s resolve to delay any further interest rate cuts.