New York (CNN Business) The world of online shopping was long immune to inflation until Covid-19 turned everything upside down.
that underscored the severe price pressures hitting the US economy. E-commerce prices began rising in June 2020, beginning an unprecedented stretch of 25 consecutive months of increasesthat underscored the severe price pressures hitting the US economy.
That streak has finally ended. Online prices declined by 1% year-over-year in July, snapping a string of nearly two years of persistent inflation, according to a report released Tuesday by Adobe.
The shift is even more pronounced on a month-over-month basis where online prices dropped by 2% in July, Adobe said.
The findings bode well for the inflation crisis, signaling a potential easing of the pricing pressures that have squeezed consumers and raised recession fears.