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.
Of course, it may take considerable time before inflation gets anywhere back to normal levels, and Adobe noted that online grocery prices continue to surge.
Inflation remains way too high across the US economy.