Online Inflation Accelerates Again After One-Month Pause in July
Online inflation rose again in August, after slowing down in July, according to the latest Adobe Digital Price Index (DPI) from Sept. 12.
Consumer prices rose 0.4 percent last month over August 2021, while rising 2.1 percent month over month.
This comes after prices fell 1 percent on an annual basis in July.
Fourteen out of 18 of the categories tracked by the DPI saw month-over-month price decreases in August.
Meanwhile, 12 out of the 18 categories in the report saw year-over-year price increases last month.
Americans spent at least $64.6 billion online in August, for a rise of 6.5 percent over last year, according to the report.
Consumers spent more in July, at roughly $73.7 billion, for a 20.9 percent increase over last year, after many retailers offered “Prime Day discounts that drove record sales for the retail industry overall,” according to Adobe….