Prices are still high, but consumers got some relief last month when deflation occurred across 14 merchandise categories.
“Wavering consumer confidence and a pullback in spending, coupled with oversupply for some retailers, is driving prices down in major online categories like electronics and apparel,” said Patrick Brown, vice president of growth marketing and insights, Adobe. “It provides a bit of relief for consumers, as the cost of food continues to rise both online and in stores.”
In June, electronics prices online were down 7.3 percent year-over-year, and down 6.5 percent year-over-year last May. The Adobe Digital Price Index, developed by Adobe Analytics, analyzes one trillion visits to retail sites and over 100 million stock keeping units across 18 product categories. Groceries, tools/home improvement, pet products, and non-prescription drugs experienced inflation last month.
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