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Record Inflation Impacts Jewelry in January

U.S. Jewelry CPI Surges 8%

Feb 17, 2012 9:14 AM   By Jeff Miller
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RAPAPORT... U.S. consumer price inflation (CPI) in January for the jewelry sector surged 8.2 percent year on year to 185 points, according to government figures released today. The reading established a new  CPI record for jewelry and it was the thirteenth consecutive monthly calculation with a reading above 170 points.

Monthly jewelry price inflation averaged a 9.5 percent  increase during 2011 as  prices were driven higher by record gold prices, near record prices for silver and double-digit price increase for diamonds.

Meanwhile, the CPI for all product categories in January rose 2.9 percent year on year to 227.5 points. That figure too was a record high, which was in part fueled  by a 4.4 percent jump in food prices, a 12.1 percent hike in fuel oil and a 4.7 percent rise for apparel, among other items.

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Tags: cpi, inflation, january, Jeff Miller, Jewelry, record
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