Spectral modulated interference fringes are observed in the form of the periodical modulation of a broadband spectrum at the output of an interferometer provided with a subsequent spectrometer. The group optical path difference of interfering light waves corresponding to the distance from the surface to be measured is characterized by the spectral fringe phase function. To recover the phase functions, a standard, Fourier-transform method, or parametric methods like a phase-locked loop (PLL) method, can be used. In the former case, the Fourier spectrum in the wavelength domain is computed and filtered out to obtain the reference spectrum and the overall phase information using a phase-unwrapping algorithm. In the latter case, the fringe phase deviations are traced dynamically in the independent variable domain, i.e. in the wavelength domain when the PLL method is applied to spectral interferometry. The PLL method was used to demodulate spectral fringes iteratively. A spectral fringe signal with a priori unknown carrier fringe frequency is considered and at the first iteration step a fringe phase equal to zero is supposed. The second iteration takes the demodulated phase found from the first iteration etc. As a result, the unwrapped phase function of the spectral fringes is found.