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U.S. Jewelry Prices Jump in August

Sep 26, 2016 10:33 AM   By Rapaport News
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The U.S. consumer price index (CPI) for jewelry increased 4 percent in August from the previous month, according to data from the U.S. Bureau for Labor Statistics. The reading was 9 percent higher than a year ago.

The jump contrasts with mixed diamond and gold prices in August. The RapNet Diamond Index (RAPI™) for 1-carat diamonds was down 0.8 percent, or 4.5 percent lower than a year ago. RAPI for 0.30-carat was flat during August and RAPI for 0.50-carat rose 0.2 percent, while the index for 3-carat diamonds increased 0.2 percent. Gold prices on Comex declined 3.5 percent between August 1 and August 31, according to data compiled by Bloomberg.

The August CPI for watches fell 1.5 percent month on month and rose 6 percent year on year. The CPI for jewelry and watches combined jumped 2 percent from July and 8 percent from a year ago. The CPI for all urban consumers increased 0.2 percent from the previous month on a seasonally adjusted basis.
Tags: Bureau for Labor Statistics, consumer price index, cpi, Jewelry, jewelry prices, prices, Rapaport News, RAPI, RapNet Diamond Index, u.s., Watch prices, watches
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