Adobe releases the latest inflation data for the US online market! Prices of three major categories have dropped significantly!

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), the price of the US online retail market rose by 2% year-on-year in May 2022, down 0.7% from April. It rose by 2.9% year-on-year in April and 3.6% year-on-year in March (the highest in history).

The Adobe Digital Price Index analyzed 1 trillion retail website visits and more than 100 million SKUs in 18 categories. The data showed that prices in 10 of the 18 categories fell in May compared with April, including electronics, personal care products, jewelry, books, toys, home and garden, appliances, computers, sporting goods and apparel. Prices in eight categories rose, with groceries seeing the highest increase.

Important categories in Adobe Digital Price Index in April

Electronic products: Prices fell 6.5% year-on-year and 1.4% month-on-month. This is the smallest drop in this category since May 2020 (a year-on-year drop of 6.2%). As the category with the largest spending share, the decline in this category will have a great impact on prices in the online retail market.

Clothing: Prices increased by 9% year-on-year, down 1.5% month-on-month, and rose for the 14th consecutive month. However, there are signs that prices in this category are beginning to loosen up. In April, prices in this category increased by 12.3% year-on-year, 16.3% year-on-year in March, and 16.7% year-on-year in February.

Toys: Prices fell 6.5% year-on-year and 1.3% month-on-month. This was the lowest drop in the category since December 2019 (a 10% year-on-year drop). At the same time, the category also rose for the 14th consecutive month.

Grocery: Prices increased 11.7% year-on-year and 1.3% month-on-month. This is a new high after the year-on-year growth of 10.3% in April, 9% in March, and 7.6% in February. This is also the first time that the price growth rate of the grocery category has exceeded that of clothing. The category has risen for 28 consecutive months.

It is learned that American consumers spent a total of $78.8 billion online in May, a year-on-year increase of 7.1%, $1 billion more than in April. In April, consumers spent a total of $77.8 billion online, a year-on-year increase of 4.5%. However, May's consumption was still lower than the level in March (US$83.1 billion, a year-on-year increase of 7%). So far in 2022, Americans have spent a total of $377.6 billion online, a year-on-year increase of 8.9%.

Editor ✎ Nicole/

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