Online prices fell for the eighth straight month from a year earlier, with declines for appliances and electronics.
(Bloomberg) — Online prices fell for the eighth straight month from a year earlier, with declines for appliances and electronics.
Prices of goods sold online fell 1.8% in April from the previous year and declined 0.7% from March, according to data from Adobe Inc.
released Tuesday.
There was one notable exception: the grocery category, which is seeing persistent inflation with a 9.3% gain from the previous year.
Eleven of the 18 categories tracked by Adobe saw prices decrease from the previous year.
The drop for appliances, at 7.1%, was the largest in data going back to 2014. The declines were even sharper for electronics, computers and flowers, which dropped 11.6%, 15.4% and 27%, respectively.
The Adobe Digital Price Index was developed with the help of Austan Goolsbee before he became president of the Federal Reserve Bank of Chicago this year.
The gauge analyzes one trillion visits to retail sites and more than 100 million items to track price changes.
Overall, the rate of annual inflation has been cooling in the US since its peak last June.
But prices are still higher than last year, especially for services.
Looking over a six-month period, the prices of goods excluding food and services have started to decline on annual basis in government data.
The April consumer price index will be released Wednesday.
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