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E-Commerce Might Help Solve the Mystery of Low Inflation

Online prices of personal computers fell by 12.3 percent, for example, but the C.P.I. showed just a 6.9 percent drop. Toy prices online slumped 12 percent, while the C.P.I. put the drop at just 7.8 percent. Online prices for photographic equipment and supplies fell 9.2 percent compared with the 0.6 percent decline registered by the official measure.The government said on Tuesday that the C.P.I. increased 2.8 percent in May from 12 months earlier, with much of that jump coming from higher prices for gasoline and other energy items. Not including food, energy and housing, which tend to change a lot from month to month, the index was…

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