U.S. Jewelry CPI +10% in 2011 June
By Jeff Miller http://www.diamonds.net
RAPAPORT... The U.S. consumer price index (CPI) for jewelry in the month of June jumped 9.5 percent year on year to record high of 176.29 points and marked the sixth consecutive month with a reading greater than 170 points. Jewelry inflation has been driven higher by continued strong year-on-year price increases for diamonds, gold and silver.
Furthermore, the CPI has now been above 150 points for 41 consecutive months. The jewelry price index is based upon the reference point of average prices in 1986, which is set at 100 points.
Meanwhile, the CPI for all product categories rose 3.6 percent year on year in June to 225.72 points. The base period for that overall reading was provided by an average of 100 points taken from 1982 to 1984.
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