Adobe Digital Price Index: Online Prices Fall to 40-Month Low, Down 3.2% In August

Adobe (Nasdaq:ADBE) announced the latest online inflation data from the Adobe Digital Price Index (DPI), powered by Adobe Analytics. Online prices in August 2023 fell 3.2% year-over-year (YoY), hitting a 40-month low—and marking a full year (12 consecutive months) of YoY price decreases. Online prices fell for over half of Adobe’s tracked categories (11 of 18) on an annual basis. On a month-over-month (MoM) basis, online prices rose 0.4% in August following the Prime Day event in July, now an industrywide e-commerce moment with heavy discounting across different retailers.

August’s YoY price decline was driven by notable drops in categories such as sporting goods (down 7% YoY, down 1.4% MoM), appliances (down 7.3% YoY, up 1.3% MoM) and home/garden (down 6.8% YoY, up 0.2% MoM). Electronics saw a steeper decline, falling 11.6% YoY (down 0.8% MoM), as well as computers which fell 14.2% YoY (down 1% MoM).

Although inflation continues to impact grocery prices, YoY increases have now slowed for 11 consecutive months; Online prices were up 5% YoY in August, a smaller jump compared with July 2023’s 6.3% YoY and June 2023’s 7.6% YoY increases. Grocery prices were down 0.2% MoM, the first monthly decrease in this category since May 2021, a positive sign after 27 consecutive months. Price increases have slowed for pet products as well: prices were up 5.5% YoY (up 0.1% MoM), compared with a 6.3% YoY increase in July 2023, and an even more substantial 8.1% YoY increase in June 2023.
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