Online prices fell in April for the eight consecutive month with a 1.8% year-over-year decline, the latest data from the Adobe Digital Price Index (DPI) has revealed.
April’s decline was driven by notable drops in categories such as appliances, which fell 7.1%, the largest year-over-year drop for the category since Adobe began tracking online prices in 2014.
Prices continued to fall in other categories such as sporting goods, toys and home/garden while steeper year-on-year declines were observed in electronics, which fell 11.6% and computers which fell 15.4%, the report said.
Although the grocery category has experienced persistent inflation, price increases have now slowed for seven consecutive months. Grocery prices were up 9.3% year-on-year, a smaller jump compared to previous increases in both March and February.
For the non-discretionary category including personal care prices were up 3% year-on-year, compared with 4.4% year-on-year growth in March 2023, and an even more substantial increase in February.
Powered by Adobe Analytics, the DPI analyses one trillion visits to retail sites and over 100 million SKUs across 18 product categories. In April, 11 of the DPI’s 18 categories saw year-on-year price decreases. Seven categories experienced year-on-year price increases, including personal care, pet products, grocery, non-prescription drugs, tools/home improvement, medical equipment/supplies and apparel.
