Online prices continue decline

Online prices in April fell 1.8% year-over-year (YoY), marking the eighth consecutive month of YoY price decreases, with the majority of categories (11 of 18) tracked by Adobe Digital seeing falling prices on an annual basis. The price decline was driven by notable drops in categories such as appliances, which fell 7.1% YoY, the largest drop for the category since Adobe began tracking online prices in 2014. Appliance prices have fallen YoY for seven consecutive months, after having risen for 29 consecutive months starting in May 2020. Prices also continued to fall in home and garden (down 5.6% YoY). Seven categories experienced YoY price increases, including tools and home improvement, personal care, pet products, grocery, non-prescription drugs, medical equipment and supplies, and apparel.