Adobe Digital Price Index: Grocery Prices Fall 3.7% Month-over-Month in August

Adobe (Nasdaq:ADBE) announced the latest online inflation data from the Adobe Digital Price Index (DPI), powered by Adobe Analytics. In August 2024, online prices fell 4.4%year-over-year (YoY) and 0.3% month-over-month (MoM). This marks 24 consecutive months where online prices have decreased on an annual basis, and the fifth consecutive month where prices have fallen on a monthly basis. August’s YoY price decline was driven by notable drops in major discretionary categories such as electronics, toys and apparel. Grocery prices rose in August YoY, but the price increase has slowed; The category also fell significantly MoM.

In electronics, prices were down 5.3% YoY in August (down 0.3% MoM), after falling 5.9% YoY in the month prior (July 2024). Prices for apparel fell 9.0% YoY (up 0.8% MoM), marking 12 consecutive months where prices have fallen on an annual basis. In toys, prices fell 5.6% YoY (down 1.2% MoM), marking forty-one consecutive months where prices have fallen on an annual basis. And in furniture and bedding, a steadily growing e-commerce category, prices fell 5.0% YoY in August (flat MoM); This category has now seen prices fall YoY for 19 consecutive months.
more at: https://news.adobe.com/news/news-details/2024/Adobe-Digital-Price-Index-Grocery-Prices-Fall-3.7-Month-over-Month-in-August/default.aspx

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