By Joan Verdon
Source: Forbes

Online prices for groceries were up by a record amount, on an annual comparison, in May, while prices in other categories declined, as Americans curbed discretionary spending due to inflation, according to data from Adobe Analytics released today.

Grocery prices were up 11.7% year-over-year in May, outpacing the previous records for annual increases set in April, March, and February of this year, data from the latest Adobe Digital Price Index shows.

U.S. consumers spent $78.8 billion online in May, according to Adobe. That is 7.1% more than they spent in May, 2021, and $1 billion more than the $77.8 billion spent online in April. So far this year consumers have spent $377.6 billion online, up 8.9% compared to the same period in 2021.

Read the full article