Online display ad prices haven’t fully recovered to last year’s peak, but according to one source, they’re getting there.

At the end of June, ad rates among the 6,000 Web publishers working with ad-optimizing firm PubMatic were up 35% since a low point at the beginning of the year. Rates climbed 15% between May and June.

“Although ad pricing has not returned to year-ago levels, the industry has gone up consistently every month since January 2009. The worst may be behind us,” says PubMatic CEO Rajeev Goel.

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