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Computers have also contributed, with prices falling 12.6% YoY (down 2.3% MoM).

Categories such as electronics have kept topline inflation (up 0.4% YoY) below 1%, with prices falling significantly at 10% YoY in August (down 0.9% MoM). Personal care products also saw a notable uptick in August, with prices rising 2.7% YoY (up 1.1% MoM), the highest YoY increase since March 2021, when prices hit a record high at 3.6% YoY. Prices for apparel had fallen 1% YoY in the month prior (July), driven in part by back-to-school discounts and oversupply for certain retailers. Apparel prices have also contributed, rising 4.9% YoY (up 8.7% MoM) as seasonal promotions fade. Online inflation in August was driven by groceries, where prices rose 14.1% YoY (up 1.1% MoM), another record YoY high for the category. In the month prior (July 2022), e-commerce entered deflation after 25 consecutive months of rising prices, dropping 1% YoY. Consumer spending online in August reached $64.6 billion, an increase of 6.5% YoY, attesting to the strength of the digital economy overall. In August 2022, online prices increased 0.4% year-over-year (YoY) and 2.1% month-over-month (MoM), with grocery prices seeing their highest annual increase (14.1% YoY) and electronics prices continuing to drop (10% YoY).

Today, Adobe (Nasdaq:ADBE) announced the latest online inflation data from the Adobe Digital Price Index (DPI), powered by Adobe Analytics.

Consumer demand remains resilient, with $64.6 billion spent online in August, up 6.5% year-over-year.

Grocery prices continue to surge, hitting another record high at 14.1% year-over-year prices for electronics continued to drop at 10% year-over-year.

Online prices rose 0.4% on an annual basis in August, while rising 2.1% month-over-month.