Online Prices Continue to Drop for 8th Consecutive Month, Say Report

According to a recent Adobe Digital Price Index report by Adobe Analytics revealed that online prices dipped by 1.7% in March compared to the previous year. This marks the seventh consecutive month of year-over-year price declines across more than half of the categories tracked by Adobe. Despite inflation weighing on consumers’ wallets, certain categories experienced price increases, with grocery, apparel, and personal care products rising 10.3%, 6.6%, and 4.4%, respectively.

On the other hand, electronics and furniture/bedding products saw a decline of 12.9% and 0.9%, respectively. Other categories with declining prices included flowers and gifts (24.3%), appliances (4.9%), toys (6.6%), and home and garden products (4.9%). The Consumer Price Index indicates that inflation is beginning to cool, but consumers are still feeling the pinch. In March, grocery prices experienced a slight bump of 0.4% month over month. However, grocery price increases have slowed down since their September peak of 14.3%…