Press release
Adobe Digital Price Index: Online Inflation Hits Record High
Online prices increased 3.5% year-over-year November marked 18th consecutive month of online inflation One dollar out of every four dollars now spent online
About this update from Adobe Inc.
[{"type":"text","content":"\n\nOnline prices increased 3.5% year-over-year\n\n\nNovember marked 18th consecutive month of online inflation\n\n\nOne dollar out of every four dollars now spent online in the U.S.\n\n\n SAN JOSE, Calif.--(BUSINESS WIRE)--\nAdobe (Nasdaq:ADBE) today announced the latest online inflation data for the month of November 2021. Online prices hit a record high at a 3.5% year-over-year (YoY) increase while prices are down 2% month-over-month (MoM) due to holiday discounts. This is the highest YoY increase since Adobe first began tracking the digital economy in 2014, and it marks the 18th consecutive month of YoY online inflation. Apparel was a standout category with prices up 17.3% YoY and down just 0.4% MoM, reaching a record high of inflation. One dollar out of every four dollars* is now spent online in the U.S., making the digital economy a significant component of the overall economy.\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211209005245/en/(Graphic: Business Wire)\nThe Adobe Digital Price Index (DPI) provides the most comprehensive view into how much consumers are paying for goods online. The DPI covers more than 100 million products in the U.S. and is modeled after the Consumer Price Index issued by the U.S. Bureau of Labor Statistics. The DPI is updated monthly and covers 18 product categories: electronics, apparel, appliances, books, toys, computers, groceries, furniture/bedding, tools/home improvement, home/garden, pet products, jewelry, medical equipment/supplies, sporting goods, personal care products, flowers/related gifts, nonprescription drugs and office supplies.\n\n“Census Bureau data shows that the e-commerce share of non-fuel retail spending has tripled over the last decade as more expenditures like groceries and home improvement move online,” said economist Marshall Reinsdorf, former senior economist at International Monetary Fund. \"Measures of digital economy prices have a growing role to play in how we understand inflation, and the Adobe Digital Price Index provides a timely pulse on this important part of the cost-of-living picture that complements indicators like the Consumer Price Index.”\n\n“Ongoing supply chain constraints and durable consumer demand have underpinned the record high inflation in e-commerce, with apparel seeing high volumes...