Consumer prices rose 0.1 percent in July and were up 3.4 percent from a year earlier, the Bureau of Labor Statistics reported Wednesday, a slight improvement on June’s 3.5 percent annual rate.

Core prices, which strip out food and energy to show the underlying trend, rose 0.2 percent for the month and 2.5 percent over the year, down from 2.6 percent in June. Both figures matched what economists had forecast.

Housing did most of the work in the monthly number. Shelter costs rose 0.1 percent and accounted for roughly two-thirds of the overall increase, with the shelter index up 3.2 percent over the year. A 2.8 percent drop in hotel and lodging prices held that category down.

Energy fell 1.5 percent for the month, following a 5.7 percent drop in June, with gasoline down 2.9 percent. The annual comparison tells a different story. Energy prices are up 14.7 percent over 12 months, driven by gasoline rising 24.6 percent. Natural gas is up 4.3 percent over the year and electricity 4.2 percent.

Food prices rose 0.1 percent. Grocery prices actually declined 0.1 percent, the first monthly drop since March, offset by a 0.3 percent increase in restaurant prices.

Elsewhere in the report, airline fares jumped 2.2 percent for the month and are up 25.5 percent over the year. Medical care rose 0.4 percent, used vehicles 0.4 percent and new vehicles 0.1 percent. Motor vehicle insurance fell 0.3 percent, and prescription drug prices dropped 0.8 percent.

For households, the comparison that matters most is between prices and paychecks. Inflation at 3.4 percent continues to outrun wage growth, which is running at 3.2 percent, a gap that has now persisted for several months.

The August index is scheduled for release September 11.