As inflation jumps, online prices rise at record pace

Online prices rose at a record pace in November, climbing 3.5% compared to a year ago and capping a steady 18-month inflationary climb out of the COVID-19 pandemic last April, according to newly released data from Adobe Digital Insights.

The surge in inflation is the highest since 2014, when Adobe began keeping records, the software giant said. Apparel prices rose the most, with price tags climbing more than 17%. Flowers, tools and sporting goods were also high on the list. Roughly $1 of every $4 is spent online, according to Adobe. 

Many Americans were already feeling the pinch of inflation heading into the holiday season this year as supply-chain snags translated into empty shelves or a fewer selection of goods to choose from. Consumers saw some 3 billion out-of-stock messages online in November, even as they spent some $114 billion, an almost 14% increase that shows strong demand, according to Adobe.