The trend of rising online grocery prices continued in March, with costs up by 10.3 percent from the previous year, according to the Adobe Digital Price Index. Although online grocery prices have eased over the past six months, they are still above historical averages, with Adobe projecting that they will continue to grow more slowly in 2023 compared to the previous year. The Labor Department's Consumer Price Index also predicts that food prices will increase by 7.5 percent in 2023, with eggs expected to see the largest surge in prices at an estimated rise of 29.6 percent.
Despite persistent inflation, customers are still buying groceries online, with spending rising by 10.8 percent to $86.8 billion last year. Coresight Research reports that online grocery sales are continuing to grow, though at a slower pace, and that grocery inflation has boosted foot traffic at discount grocery stores and large retailers like Walmart, Kroger, and Costco. While fresh fruit and vegetable prices are projected to continue growing, prices for beef, veal, and pork are expected to fall in 2023.
Today, we are anticipating data on inflation in the U.S. The consumer price index for March is expected to increase by 0.2%, slightly lower than the previous value of 0.4%. However, if the actual data turns out to be worse than expected, we may see an increase in market volatility and a possible decline in prices. It's worth keeping an eye on the data release to stay informed about the current economic situation.
The 10-day moving average for ADBE crossed bullishly above the 50-day moving average on June 18, 2024. This indicates that the trend has shifted higher and could be considered a buy signal. In of 15 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are .
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
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