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U.S. Jewelry Prices +3% in February, Watches +9%

Mar 23, 2016 9:44 AM   By Rapaport News
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RAPAPORT... The U.S. consumer price index (CPI) for jewelry rose 2.9 percent in February from a month ago, according to the U.S. Bureau of Labor Statistics. The reading was 6.2 percent higher from a year ago.

The price rise comes as polished diamond prices increased during the month, with the RapNet Diamond Index (RAPI™) for 1-carat, GIA-graded diamonds rising 0.3 percent. RAPI for 0.30-carat diamonds advanced 0.4 percent and RAPI for 0.50-carat diamonds added 0.7 percent. RAPI for 3-carat diamonds fell 1.2 percent.

Meanwhile, gold prices on Comex jumped 9 percent in February, according to data compiled by Bloomberg.

The February CPI for watches climbed 8.9 percent from a month ago and 8.5 percent from a year earlier, according to the U.S. labor data. The CPI for all urban consumers declined 0.2 percent in February on a seasonally adjusted basis.
Tags: consumer price index, consumer price inflation, cpi, Diamond prices, diamonds, Jewelry, jewelry prices, prices, Rapaport News, RAPI, watches
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