As inflation jumps, online prices rise at record pace
CBSN
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.
Ashley White received her earliest combat action badge from the United States Army soon after the first lieutenant arrived in Afghanistan. The silver military award, recognizing soldiers who've been personally engaged by an attacker during conflict, was considered an achievement in and of itself as well as an affirming rite of passage for the newly deployed. White had earned it for using her own body to shield a group of civilian women and children from gunfire that broke out in the midst of her third mission in Kandahar province. All of them survived. She never mentioned the badge to anyone in her battalion.