Adobe Digital Price Index: Online Prices Fall For Eighth Consecutive Month, Dropping 1.8% In April

Adobe (Nasdaq:ADBE) announced the latest online inflation data from the Adobe Digital Price Index (DPI), powered by Adobe Analytics. Online prices in April 2023 fell 1.8% year-over-year (YoY), marking the eighth 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 0.7% in April.

April’s YoY price decline was driven by notable drops in categories such as appliances, which fell 7.1% YoY (down 2.1% MoM), the largest YoY drop for the category since Adobe began tracking online prices in 2014. Prices continued to fall YoY in categories including sporting goods (down 6.4% YoY, up 1.5% MoM), toys (down 5.9% YoY, down 0.2% MoM) and home/garden (down 5.6% YoY, down 0.8% MoM). Steeper YoY declines were observed in electronics, which fell 11.6% YoY (up 0.5% MoM), as well as computers, which fell 15.4% YoY (up 1.9% MoM).

Although the grocery category has experienced persistent inflation, YoY price increases have now slowed for seven consecutive months. Grocery prices were up 9.3% YoY (up 0.4% MoM), a smaller jump compared with March 2023’s 10.3% YoY and February 2023’s 11.4% YoY increases. The rate of growth peaked in September 2022, when prices rose 14.3% YoY. For another non-discretionary category – personal care – prices were up 3% YoY (down 1.1% MoM), compared with 4.4% YoY growth in March 2023, and an even more substantial 6.1% YoY increase in February 2023.
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