Adobe: Groceries, apparel lead rise in online prices in April
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While the latest data on inflation showed prices continuing to rise and remain at levels not seen in four decades, the cost of purchasing products online declined in April on a mild month-over-month basis.
That's the assessment software and digital marketing technology company Adobe (NASDAQ:ADBE), which on Wednesday released information from its Digital Price Index for April. Adobe (ADBE) said that average prices of products purchased online last month rose 2.9% from the same period a year ago, but were down from the 3.6% increase that the index recorded in March. According to Adobe (ADBE), April marked the 23rd-straight month of year-over-year online inflation, but that 10 of the 18 product categories tracked by the index showed prices in April dipping on a month-over-month basis.
Patrick Brown, vice president of growth marketing and insights at Adobe (ADBE), said that as consumers continue to face factors such rising borrowing costs and economic uncertainty, "we are beginning to see the early impact on both online inflation and spend." 
Brown said that even with prices rising, "consumers continue to embrace the ease of online shopping. However, the amount of spending online, while still massive, showed some signs of being impacted by the ongoing rise of inflation that, for many, has become of topic of widespread economic interest for the first time since the early years of the Reagan Administration.
Adobe (ADBE) said consumers spent $77.8 billion online in April, up 4.5% from a year ago, but down from the $83.08 billion spent in March. 
Among the categories tracked by Adobe (ADBE), online prices for electronics in April fell 5.2% from a year ago, and computer prices were down by 5.7%.
However, the prices of everyday goods more-than-countered those declines.
Adobe (ADBE) said grocery prices online surged by 10.3% on a a year-over-year basis, and added to March's year-over-over year price rise of 9%. The price of apparel rose a whopping 12.3% from April 2021, and the cost of pet products climbed 8%, which Adobe (ADBE) said was the highest-ever year-over-year increase for the category.
Adobe (ADBE) said it models its Digital Price Index after the Consumer Price Index [CPI] that is published by the U.S. Bureau of Labor Statistics, and uses the Fisher Price Index to track online prices.
Early Wednesday, the Bureau of Labor Statistics reported that the CPI in April rose 8.3% from a year ago, but also eased slightly from its March levels.