Inflation-indexed bond ETFs that fell harder than nominal Treasuries during the recent interest-rate spike were getting a lift Tuesday from a report showing consumer prices rose more than expected in June.

The Consumer Price Index rose 0.5% last month, the Labor Department said.

The iShares TIPS Bond ETF (NYSEArca: TIP) was fractionally higher at last check Tuesday. The principal of TIPS is adjusted for inflation using the CPI. However, it’s important to understand that TIPS can be hurt by rising rates just like nominal Treasuries.

TIPS ETFs have had a rough time in recent months on low inflation and rising Treasury yields. [A Toxic Mix For TIPS ETFs]

CPI rose 0.1% in May. The index fell 0.4% in April after slipping 0.2% in March.

The 0.5% rise in June was driven by higher gasoline prices.

On a year-over-year basis, the inflation rate rose to 1.8% in June. The Fed’s long-term inflation target is 2%.