Online inflation slowed for the second consecutive month in May driven by lower prices on electronics and apparel, but grocery prices remained elevated, according to Adobe Digital Price Index.
The online pricing measure was released Thursday ahead the government’s May report on the U.S. consumer price index, which has been posting nearly 40-year highs for inflation. The consumer price report is due out Friday.
Overall prices online in May declined 0.7% from April, according to Adobe Analytics, which tracks 1 trillion visits to retail sites and more than 100 million items shopped online. May’s year-over-year increase of 2% for online inflation follows a 2.9% increase in April and a record increase of 3.6% in March.
