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RAPAPORT... The U.S. consumer price index (CPI) for jewelry declined 4.5 percent year on year to 170.83 points in June. However, the reading was a touch higher than the index for both May and April. The CPI for watches, meanwhile, was down 0.8 percent year on year to 122.71 points.  Somewhat stable to slightly lower prices for jewelry industry commodities have contributed to a declining CPI in the past several months. The average price of gold in June was about 3 percent lower, while platinum was about 3 percent higher compared with June 2013. The RapNet Diamond Index (RAPI), the global benchmark for polished diamond prices, fell 3.2 percent year on year for 1-carat diamonds, while RAPI for 3-carat diamonds dropped 2.8 percent in June. However, RAPI for 0.30-carat diamonds jumped 10.2 percent and the index increased 6.2 percent for 0.50-carat stones. By comparison, the CPI for all product categories in June increased 2.1 percent year on year to set a new record high of 237.69 points. The U.S. CPI has experienced 14 consecutive monthly increases as energy and food producers, in particular, continue pass on price increases to consumers.
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