A phase modulation puts the atom in a coherent superposition of quantum states with different kinetic energies. We have detected the interference of such modulated waves at the output of our atom interferometer, and we have observed beats at the difference of the modulation frequencies and its harmonics, in good agreement with theory. The phase modulations were produced by a Kerr phase modulator, i.e., by the propagation of the atom wave in a time-dependent electric field. An extension of this technique to electron interferometry should open the way to very high temporal resolution in electron microscopy.