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U.S. Jewelry Prices Stable, Watches Rise

Aug 17, 2016 9:47 AM   By Rapaport News
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The U.S. consumer price index (CPI) for jewelry and watches rose marginally in July, according to the Bureau of Labor Statistics.

The reading edged up 0.7 percent compared with June, the data showed. The CPI was 5 percent higher than its level a year ago.

The July CPI for jewelry was little changed from the previous month and rose 4 percent from a year ago. Watch prices advanced 2 percent sequentially and jumped 8 percent year on year.

The figures come alongside lower diamond prices in July, with the RapNet Diamond Index (RAPI™) for 1-carat, GIA-graded diamonds falling 1.7 percent. RAPI for 0.30-carat diamonds slid 1.8 percent and RAPI for 0.50-carat diamonds slipped 0.5 percent. RAPI for 3-carat diamonds retreated 1.5 percent.

However, gold prices climbed throughout the month, advancing 1.5 percent on Comex, according to data compiled by Bloomberg.
Tags: consumer price index, cpi, Jewelry, Jewelry and Watch Prices, Jewelry and watches, prices, Rapaport News, RAPI, RapNet, U.S, watch
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