US online prices fall for 10th month in a row! Which categories have seen the biggest drops?

It is learned that Adobe recently released the latest inflation data for the US online retail market. According to the Adobe Digital Price Index (DPI), in June 2023, US online prices fell 2.6% year-on-year, the largest drop since May 2020 (a year-on-year drop of 1.5%). At the same time, this is the 10th consecutive month that inflation data has fallen year-on-year. On a month-on-month (MoM) basis (compared with May), online prices fell 1.3% in June 2023.

The price decline in June was driven by sharp declines in categories such as electronic products (down 12.9% year-on-year and 2.3% month-on-month), computers (down 16.9% year-on-year and 2.5% month-on-month) and household appliances (down 8.3% year-on-year and 1.3% month-on-month).

In June, 11 of the 18 categories tracked by the DPI saw year-over-year price declines, with the largest decline in the flowers and related gifts category, which fell 29.7% year-over-year (down 6.1% month-over-month). In contrast, seven categories saw year-over-year and month-over-month price increases in June, including personal care, pet supplies, groceries, over-the-counter drugs, tools/home furnishings, medical equipment/supplies, and apparel.

Noteworthy Categories in Adobe’s Digital Price Index for June

Grocery prices increased 7.6% year-on-year and 0.1% month-on-month. In recent months, the price increase in this category has continued to slow down: 8.2% year-on-year in May, 9.3% year-on-year in April, and 10.3% year-on-year in March.

Home appliances: Prices fell 8.3% year-over-year and 1.3% month-over-month, the largest drop in the category since Adobe began tracking online prices in 2014. June was also the ninth consecutive month of price declines in the category.

Electronics: Prices fell 12.9% year-on-year and 2.3% month-on-month. Prices in this category have fallen sharply in recent months. As a major discretionary category, price changes in electronics have a significant impact on overall inflation.

Pet Supplies: Prices increased 8.1% year-over-year and 0.1% month-over-month. Price increases in this category were lower than in previous months: prices increased 10.2% year-over-year in May 2023, 11.3% year-over-year in April 2023, and 11.2% year-over-year in March 2023. Price increases in the pet supplies category peaked in August 2022, with a year-over-year increase of 12.7%.

Editor ✎ Nicole/

Disclaimer: This article is copyrighted and may not be reproduced without permission.