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U.S. Jewelry Inflation Soars 11% in August

Consumer Price Index Hits New Record

Sep 15, 2011 8:53 AM   By Jeff Miller
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RAPAPORT... The consumer price index (CPI) for jewelry continued to soar in August, jumping 11 percent year on year to a record high of 179.75 points. The reading marked the eighth consecutive month with a total greater than 170 points. The August reading broke the previous record high, which was set in July.  Jewelry inflation has been driven higher by continued strong year-on-year price increases for  diamonds, gold and silver. 

Furthermore, the CPI has now been above 150 points for 43 consecutive months. The jewelry price index is based upon the reference point of average prices in 1986, which is set at 100 points.

Meanwhile, the CPI for all product categories rose 3.8 percent year on year in August to 226.27 points. The base period for that overall reading was provided by an average of 100 points taken from 1982 to 1984.



Tags: august, inflation, Jeff Miller, Jewelry, prices, record, soars
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