Online US Inflation Slowed in June But Food Prices Hit New High

The inflation rate for goods purchased online in the US slowed sharply last month, according to the Adobe Digital Price Index, though there was no letup in food prices which rose at the fastest pace on record.

Overall online prices rose just 0.3% in June from a year earlier, Adobe said on Tuesday. That’s down from 2% in May and a record 3.6% in February. Compared with a month earlier, prices fell 1% — the third straight decline on that basis, the longest streak since the pandemic began in early 2020.