Online inflation hits record high in November
Apparel saw the biggest jump with prices rising 17.3%
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The price of goods online reached a record high in November, according to Adobe.
Prices rose 3.5% compared to a year ago, which is the highest year-over-year increase since 2014 when Adobe started tracking how much consumers are paying for goods online.
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Eleven out of the 18 product categories that are tracked by the Adobe Digital Price Index saw year-over-year price increases.
A consumer buying goods online. (iStock)
The apparel category saw the biggest jump with prices increasing 17.3% compared to a year ago, according to the data. On a month-to-month basis, apparel prices only dipped 4% even with holiday discounts kicking in, according to Adobe's data.
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Although apparel prices rose faster than any other category, it's not the only product that saw a surge in price online.
Product categories that saw prices increases year over year:
- Flowers and related gifts: 15.48%
- Tools and home improvement: 6.93%
- Sporting Goods: 6.75%
- Appliances: 3.96%
- Groceries: 3.89%
- Pet Products: 3.53%
- Furniture and bedding: 2.91%
- Nonprescription drugs: 2.78%
- Home and garden: 1.41%
Product categories that saw prices decrease year over year:
- Computers: -5.64%
- Jewelry: -3.69%
- Toys: -2.91%
- Books: -2.30%
- Office supplies: -1.56%
- Personal care products: -0.88%
- Electronics: -0.44%