RAPAPORT... The U.S. consumer price index (CPI) for jewelry fell 1.4 percent year on year in August to 177.1 points. While the index measured its highest level since March, still, it registered a second consecutive monthly year-on-year decline.
Nonetheless, the CPI remains at historically high levels and August's reading marked 20 consecutive months with a reading of more than 170 points.
Since the CPI dropped below record highs, in the 180s, prior to April, prices for polished diamonds, gold and platinum have fallen; however, just this past month demand for precious metals has improved and pressured prices higher again.
For all product categories combined, the CPI rose in August by 1.7 percent year on year to 230.1 points, setting a new record high.