Inflation rate increased to 3.6% in March! US online shoppers lost $2.8 billion!

According to the latest economic index report released by Adobe, inflation in March caused Americans to spend an extra $2.8 billion online, which means that the price increase has caused Americans to lose $2.8 billion.

Americans reported spending $83.1 billion online in March, more than $16 billion more than the $67 billion spent in February. In addition, online spending increased 7% in March compared to the same period in 2021. In March 2021, U.S. online spending reached a record $77.7 billion.

According to Adobe, U.S. inflation was as high as 3.6% in March, up 0.3% from February. Adobe has reported online inflation for 22 consecutive months since June 2020.

Patrick Brown, vice president of Adobe, said that although online prices have risen and a large number of products are out of stock (3.1 billion out of stock listings), Americans have not stopped shopping online and consumer spending remains very strong.

It is learned that among the 18 categories tracked by Adobe Digital Economy Index, 14 categories saw year-on-year price increases in March, among which clothing increased by 16.3%, the largest increase. The four categories that saw price decreases were electronics, jewelry, toys and computers.

It is worth noting that online prices in the pet category are accelerating, with prices rising 5.6% year-on-year in February and 7% year-on-year in March. The reason is that more and more Americans have adopted pets to keep them company during the epidemic. And, during the peak season of 2021, online sales of pet products increased by 63% compared with daily levels.

Tools and home improvement was also a category in high demand, posting year-over-year price increases for the 16th consecutive month. Online prices in the category were up 8.5% in March compared to the same period in 2021.

Editor ✎ Nicole/

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