US’ online prices in May 2023 fell by 2.3 per cent year-over-year (YoY), marking the most significant decrease since the COVID-19 pandemic started, according to Adobe Digital Price Index (DPI). This marks the ninth consecutive month of YoY price reductions, with 11 out of 18 tracked categories reporting a drop in prices on an annual basis.On a month-over-month (MoM) basis, online prices fell by 1.2 per cent in May, underscoring the prevailing deflationary trend.
In May 2023, seven categories, including apparel, witnessed YoY price increases during the same month. Furthermore, categories including furniture and bedding and sporting goods saw further significant price drops, as per Adobe DPI.
US online prices fell 2.3 per cent YoY in May 2023, marking the largest decrease since COVID-19 began, as per Adobe DPI.
This marks the ninth consecutive month of YoY reductions, with 11 of 18 categories reporting price drops, including furniture and bedding and sporting goods.
On a MoM basis, online prices fell by 1.2 per cent in May 2023.
Fibre2Fashion News Desk (DP)
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