Adobe: Online inflation hits 41-month low in September
Online prices continued to fall in September.
Online prices in September 2023 fell 4.6% year-over-year (YoY) to a 41-month low, marking 13 consecutive months of YoY price decreases, according to the Adobe Digital Price Index (DPI). Powered by Adobe Analytics, the DPI analyzes one trillion visits to retail online sites and over 100 million SKUs across 18 product categories. On a month-over-month (MoM) basis, online prices in September were down 0.6%.
In September, 12 of the 18 categories tracked by Adobe had YoY-decreased, with the decline was driven by major discretionary categories, including appliances (down 7.6% YoY, down 1.7% MoM), electronics (down 11.9% YoY, down 1.5% MoM), and computers (down 12.2% YoY, up 0.4% MoM). The flowers/related gifts category had the biggest decline, falling 30.6% YoY.
Grocery
Though grocery prices continue to be impacted by inflation, YoY price increases in groceries have now slowed every month for 12 consecutive months. Online grocery prices were up 4.5% YoY in September, a smaller jump when compared with August 2023’s 5% YoY and July’s 6.3% YoY increases.
Grocery prices rose slightly on a MoM basis (up 0.3%) compared to an August decrease of 2.0% MoM, which was the first monthly decrease in this category since May 2021.