Editor’s note: This article was updated to add more context and detail.

The Consumer Price Index (CPI) rose 3.4% year-over-year in July, line with the annual inflation economists expected and down from June’s 3.5% increase, the Bureau of Labor Statistics reported Wednesday.

On a monthly basis, prices rose 0.1%, a rebound from June’s 0.4% decline and matching the 0.1% economists expected.

Core CPI, which strips out food and energy, rose by 0.2% on the month, in line with forecasts.

The annual core inflation rate eased from 2.6% to 2.5%, again matching expectations.