RAPAPORT... The U.S. consumer price index (CPI) for jewelry fell 2 percent year on year in November to 177.7 points in response to marginally weaker prices for precious metals and continued softness in polished diamond prices during the month. The index was 1.52 points lower than October's reading.
Nonetheless, the CPI remains at historically high levels and November's measure marked 23 consecutive months of a reading of more than 170 points. The CPI reached a record 185 points in January, but then prices for polished diamonds, gold and platinum have since remained under pressure.
For all product categories combined, the CPI rose 1.8 percent year on year in November to 231.03 points, which was slightly lower than the record high set in October and the lowest reading in two months.