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RAPAPORT...
The U.S. consumer price index (CPI) for jewelry was basically flat in April, rising by just 0.5 percent year on year to 176 points. The index was at its lowest level since May 2011 and it finally broke a six-month long string of readings totaling more than 180 points, which have weighed on jewelry prices this past year. Nonetheless, the CPI for jewelry in April marked the sixteenth consecutive month of a reading above 170 points, reflecting higher operating costs at the counter along with rising wholesale prices of precious metals, diamonds and gemstones. Meanwhile, the CPI for all product categories combined in April rose 2.3 percent year on year to 229.12 points, which established a new index high.
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