Prices of goods sold online in the US contracted for the second time in three months, as steep declines for computers and electronics masked a record surge for groceries, according to Adobe Inc.
(Bloomberg) — Prices of goods sold online in the US contracted for the second time in three months, as steep declines for computers and electronics masked a record surge for groceries, according to Adobe Inc.
September online prices dropped 0.2% from a year earlier, after rising 0.4% in August, Adobe said Wednesday.
In July, prices had declined for the first time in more than 2 1/2 years.
There was little sign of relief for consumers buying food, however, with annual inflation for groceries bought online at 14.3% last month.
Out of 18 e-commerce categories tracked by Adobe, grocery is the only one to move in step with overall consumer prices tracked by the government.
In total, 11 categories in the Adobe digital price index saw gains, including products for pets and for home improvement.
Although overall inflation has abated in the US in recent months, it remains historically high.
Economists expect that the consumer price index, scheduled to be released on Thursday, rose 8.1% last month from a year earlier.
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