Online Prices Fell 1.6% Overall In July, But Apparel Rose: Adobe

Online prices in July 2023 fell 1.6% year-over-year (YoY), marking the eleventh consecutive month of YoY price decreases, according to the Adobe Digital Price Index (DPI).

Prices fell for 11 of the 18 categories tracked by Adobe in July. On a month-over-month (MoM) basis, online prices fell 0.9% in the month. 

With back-to-school shopping in full swing, Adobe notes that apparel is one of the categories for which prices rose in July.

Seven categories experienced YoY price increases in July. Aside from apparel, the list includes personal care, pet products, grocery, non-prescription drugs, tools and home improvement, medical equipment and supplies.

Pet product prices rose 6.3% YoY, but down 0.1% MoM. Adobe notes a smaller increase than the prior month, when prices in June 2023 rose 8.1% YoY.

In August 2022, prices for the pet product category rose substantially and peaked at 12.7% YoY. This category has seen persistent inflation on a long-term basis, with YoY price increases observed in every month since May 2020.

Adobe also notes that while the grocery category has experienced persistent inflation, YoY price increases have now slowed for 10 consecutive months. Grocery prices rose 6.3% for the period YoY -- up 0.3% MoM.

The flowers and related gifts category fell the most at 31.6% YoY.

Electronics fell 11.7% YoY, down 0.7% MoM, and computers fell 15.4% YoY, down 1.5% MoM, according to the data, which was released Tuesday. 

Appliances fell 8% YoY -- down 0.3% MoM --  while and furniture and bedding declined 3.5% YoY, down 0.7% MoM.

DPI is modeled after the Consumer Price Index (CPI), published by the U.S. Bureau of Labor Statistics, and uses the Fisher Price Index to track online prices.

The DPI analyzes 1 trillion visits to retail sites and more than 100 million SKUs across 18 product categories including electronics, apparel, appliances, books, toys, computers, groceries, furniture and bedding, tools and home improvement, home and garden, pet products, jewelry, medical equipment and supplies, sporting goods, personal care products, flowers and related gifts, non-prescription drugs and office supplies.

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