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Online prices fall for the first time in 2 years
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Online prices have declined for the first time in over two years, according to recent data.
The Adobe Digital Price Index revealed that online prices dipped 1% in July compared to a year ago after rising 0.3% in June.
Additionally, prices also dropped for a second month on a month-over-month basis, falling 2% in July after dropping 1% in June, which underscores how e-commerce is finally entering deflation.
It's a nice break for consumers who have faced 25 consecutive months of persistent inflation online. Prices even reached a record 3.6% increase year-over-year in February and March 2022.
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Seven out of 18 categories tracked by Adobe in July — including electronics, jewelry, books, toys, computers, sporting goods and apparel — saw year-over-year price drops. However, 14 categories saw month-over-month price drops.
The price of all electronics, in particular, saw one of biggest drops in July, falling 9.3% compared to a year earlier. Prices of electronics also decreased 2% from June.