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U.S. Jewelry Prices Rise 7% in January
Feb 21, 2016 10:59 AM
By Rapaport News
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RAPAPORT... The U.S. consumer price index (CPI) for jewelry increased
6.7 percent in January from the previous month, according to the U.S. Bureau of
Labor Statistics. The reading was 2.9 percent higher than a year ago.
The increase in prices comes alongside rises in
polished diamond prices in January due to shortages, with the RapNet
Diamond Index (RAPI™) for 1-carat, GIA-graded diamonds increasing 0.9 percent
during the month, while RAPI for 0.30-carat diamonds advanced 4.7 percent and
RAPI for 0.50-carat diamonds grew 4.5 percent.
Meanwhile, gold prices on Comex increased 6.4 percent
between December 31 and February 1, according to data compiled by Bloomberg.
The January CPI for watches increased 2.6 percent from a
month ago and 0.8 percent from a year earlier, according to the U.S. labor
data. The CPI for all urban consumers was unchanged on a seasonally adjusted
basis.
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Tags:
consumer price inflation, cpi, diamonds, Jewelry, prices, Rapaport News, RAPI, watches
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