US Online Prices Are Falling at the Fastest Pace Since May 2020
- Price of goods sold online fell 2.6% in June from year earlier
- Online food-price rises have slowed for 9 consecutive months
The drop for appliances, at 8.3%, was the largest in data going back to 2014.
Photographer: Bing Guan/BloombergThis article is for subscribers only.
Online prices in the US fell at the fastest pace in more than three years last month, in the latest sign that pandemic inflation is cooling off.
Prices of goods sold online fell 2.6% in June from a year earlier, according to data from Adobe Inc. released Tuesday. It was the biggest drop since May 2020, and the 10th straight month in which there’s been a year-on-year decline. More than half of the 18 main categories tracked by Adobe showed prices falling on an annual basis.