US Jewelry CPI Rises 2.5% on Year in August

The U.S. jewelry consumer price index (CPI) increased by 2.5 percent year on year in August to 182.13 points, the highest number since the peak of 183.19 points in January 2012.

For the first eight months of 2013, the jewelry CPI was largely unchanged, down 0.4 percent, according to Rapaport News.

The CPI last month was the tenth ever to be higher than 180 points and the 32nd consecutive month with a reading of more than 170 points.

Prices of gold, platinum and diamonds declined this year after reaching a record early last year, playing their part in a slightly lower CPI for most of 2013.

Gold was about 16 percent lower year on year in August 2013 and platinum nearly 2 percent lower.

Rapaport reported that its RapNet Diamond Index (RAPI) for 1-carat polished diamonds showed a decline of 5.8 percent in August. RAPI for 0.50-carat diamonds was 4.4 percent lower and RAPI for 3-carat diamonds declined by 4.3 percent. But RAPI for 0.30-carat diamonds rose 5.3 percent from a year earlier.