Online item prices fell 1.9% year-on-year in November! The turning point of US inflation has arrived!

It is learned that Adobe recently released the latest inflation data for the US online retail market. According to the Adobe Digital Price Index (DPI), in November 2022, prices in the US online retail market fell 1.9% from the same period last year and 3.2% from the previous month. US online prices have fallen month-on-month for the third consecutive month. November was the country's largest year-on-year decline since May 2020, with the lowest inflation level.

Online price declines in November were driven by heavy discounting during Cyber ​​Week (Thanksgiving through Cyber ​​Monday). Online prices for computers and electronics fell sharply, with computers down 18% year-over-year and electronics down 13.4% year-over-year. Toys (down 7.7% year-over-year, down 4.2% month-over-month) and sporting goods (down 5.7% year-over-year, down 4.3% month-over-month) both recorded the largest month-over-month price declines. Price increases in non-promotional categories such as food and groceries, pet supplies, and personal care also slowed significantly.

Data showed that in November, prices in nine of the 18 categories tracked by the DPI fell year-on-year. Computers saw the largest drop. Prices in 10 categories rose, including worker care, office supplies, home and bedding, pet supplies, food and groceries, over-the-counter drugs, tools and home improvement, medical equipment and supplies, and clothing.

Additionally, prices fell in 15 of the 18 categories tracked by the DPI compared to October. Prices rose in only three categories: food and groceries, over-the-counter drugs, and medical equipment and supplies.

Important categories in the Adobe Digital Price Index in November:

• Electronics: Prices fell 13.4% year-on-year and 4.5% month-on-month, the largest drop since 2014. The second largest drop was in December 2019, when prices in this category fell 12.8% year-on-year. As the category with the highest spending share, price changes in electronics have a huge impact on overall inflation.

• Computers: Prices fell 18% year-over-year and 5.1% month-over-month, the largest drop since 2014. The second-largest drop was in December 2019, when prices in the category fell 16.9% year-over-year. After a 2.9% year-over-year increase in December 2020, online prices for computers have fallen for 23 consecutive months.

• Food and Groceries: Prices rose 13.7% year-over-year and 0.3% month-over-month. This category set new year-over-year highs in every month from January 2022 (up 5.8% year-over-year) to September 2022 (up 14.3% year-over-year). However, in October, prices in the Food and Grocery category rose 14% year-over-year.

• Pet supplies: Prices rose 11% year-on-year and fell 0.2% month-on-month. The price increase in this category also slowed down in November compared with the previous two months. In October, the price of this category rose 11.9% year-on-year, and in September it rose 11.8% year-on-year.

Editor ✎ Nicole/

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