PPI July 2024 release with June 2024 Data

The BLS has released the July, 2024 Producer Price Index Report for the month of June.  (historical releases)

The Producer Price Index for final demand advanced 0.2 percent in June, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. Final demand prices were unchanged in May and increased 0.5 percent in April. (See table A.) On an unadjusted basis, the index for final demand rose 2.6 percent for the 12 months ended in June, the largest advance since moving up 2.7 percent for the 12 months ended March 2023. [emphasis added]

The report card is similar to last month's.

Product detail: Over 60 percent of the June decrease in the index for final demand goods can be traced to a 5.8-percent decline in prices for gasoline. The indexes for processed poultry, residential electric power, diesel fuel, jet fuel, and fresh and dry vegetables also moved lower. Conversely, prices for chicken eggs increased 55.4 percent. The indexes for residential natural gas and for aluminum base scrap also advanced.

Considering the drop off of energy, which was largely seasonal for gasoline... it is difficult to imagine inflation is dead. Couple that with the overall being the highest 12 month reading since March 2023, that notion of inflation being alive still persists imho.