Online goods inflation up 3.1% from last year
BISMARCK, N.D. (KFYR) - The average price for online goods has risen for an unprecedented 15 months in a row.
According to Adobe Digital Insights, an ecommerce research group, prices online have grown 3.1% from August of last year. Compare this to 2015 to 2019, where online prices fell 3.9% year-to-year.
The apparel industry has seen the sharpest increase, where prices have risen more than 15% since last year. There are several reasons for the jump in online prices, including high labor costs, low levels of inventories, and supply chain bottlenecks.
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