Adobe Digital Price Index: Online Prices Fall For Eleventh Consecutive Month, Dropping 1.6% In July

Adobe (Nasdaq:ADBE) announced the latest online inflation data from the Adobe Digital Price Index (DPI), powered by Adobe Analytics. Online prices in July 2023 fell 1.6% year-over-year (YoY), marking the eleventh consecutive month of YoY price decreases, with the majority of categories (11 of 18) tracked by Adobe seeing falling prices on an annual basis. On a month-over-month (MoM) basis, online prices fell 0.9% in July.

July’s YoY price decline was driven by notable drops in categories such as appliances, which fell 8% YoY (down 0.3% MoM), as well as furniture/bedding which fell 3.5% YoY (down 0.7% MoM). Steeper YoY declines were observed in electronics, which fell 11.7% YoY (down 0.7% MoM) as well as computers, which fell 15.4% YoY (down 1.5% MoM).

Although the grocery category has experienced persistent inflation, YoY price increases have now slowed for 10 consecutive months. Grocery prices were up 6.3% YoY (up 0.3% MoM), a smaller jump compared with June 2023’s 7.6% YoY and May 2023’s 8.2% YoY increases. Price increases have slowed for pet products as well; Prices were up 6.3% YoY (down 0.1% MoM), compared with an 8.1% YoY increase in June 2023, and an even more substantial 10.2% YoY increase in May 2023.
more at: https://news.adobe.com/news/news-details/2023/Media-Alert-Adobe-Digital-Price-Index-Online-Prices-Fall-For-Eleventh-Consecutive-Month-Dropping-1.6-In-July/default.aspx

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