Online grocery prices fall by most on record in August

( NewsNation ) — Rising grocery prices have put a strain on American families but those who do their shopping online may be starting to see some relief.

Online grocery prices fell 3.7% in August compared to a month earlier, according to Adobe’s Digital Price Index . That’s the largest month-over-month decline since the company started tracking the data in 2014.

The U.S. online grocery market hit $96 billion in total sales last year — 12.5% of total grocery spending — according to research from Brick Meets Click and Mercatus .

Nearly half of all digital sales in 2023 came from in-person pickups but thanks to continued promotional efforts, deliveries through apps like Instacart and WalMart have grown recently .

Skyrocketing grocery prices have been a major pain point for American families since the pandemic-era inflation surge. Compared with four years ago, grocery prices are up more than 20% .

Grocery inflation has eased in 2024, with annual price increases hovering around 1% . Even so, Americans have noticed that what goes up, doesn’t always come down and grocery prices are unlikely to return to what they were before inflation took off.

Both presidential candidates have highlighted the issue on the campaign trail. Vice President Kamala Harris has blamed high grocery prices on corporate price gouging and recently proposed a federal ban , though most economists would say so-called “ greedflation ” wasn’t the main driver of inflation.

Former President Donald Trump has laid the blame for grocery inflation at Biden and Harris’ feet, likening Harris’ recent proposal to “Soviet-style price controls.” However, economists warn Trump’s proposed tariffs could raise grocery bills for American families.

The Consumer Price Index (CPI) for August will be released on Wednesday and provide more information about how grocery prices have changed in recent months.

Adobe’s Digital Price Index is modeled after the CPI but focuses on inflation in the digital economy, tracking prices across 18 categories.

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