Online Prices Fall 1.4% in February; Food Costs E
Capital Bank, a leading financial institution in Jordan, introduces Apple Pay – a secure and private way to pay using iPhone or Apple Watch. Customers can
Online Prices Fall 1.4% in February; Food Costs E
Today, Adobe (Nasdaq:ADBE) announced the latest online inflation data from the Adobe Digital Price Index (DPI), powered by Adobe Analytics. Online prices in February 2023 fell 1.4% year-over-year (YoY), marking the sixth consecutive month of a YoY price decrease, with over half of the categories (10 of 18) tracked by Adobe seeing falling prices on an annual basis.
Price increases for groceries have continued to slow, easing food costs for consumers. On a monthly basis, online prices in February fell 0.3%. February’s YoY price decline was primarily driven by sharp drops in discretionary categories including electronics (down 12.6% YoY, down 1.7% MoM), computers (down 16.4% YoY, down 1.4% MoM) and toys (down 6.5% YoY, down 0.4% MoM).
Consumers also saw prices fall YoY for home goods: Appliances were down 3.8% YoY (down 1.8% MoM), while home/garden products fell 3.8% YoY (up 0.2% MoM). The furniture/bedding category fell for the first time after rising for 33 consecutive months, dropping 0.1% YoY (down 0.6% MoM).
In certain categories with persistent inflation, YoY price increases have slowed in recent months; Grocery prices were up 11.4% YoY (up 0.8% MoM), down from January 2023’s 12.6%, and apparel prices were up 5.1 %YoY(up 0 .3 %MoM ) compared to 16 .7 %YoY increase in February 2022 . Final thought : With these changes in pricing trends , it is clear that consumers are benefitting from lower costs across