The U.S. consumer price index (CPI) for jewelry rose 0.2 percent year on year in June to 176.63 points, Rapaport reported. While the index's change was slight, it reversed the downward trend in jewelry inflation observed in May and was the strongest reading in two months.
The CPI registered its eighteen consecutive month with a reading of more than 170 points in June. However, the rate of increase has been mixed as commodity prices find their footing. Gold is currently flat year on year at about $1,587 per ounce, while platinum is down by 21 percent to about $1,416 per ounce. Diamond prices have softened by double digits this year.
Meanwhile, the CPI for all product categories combined in June rose 1.7 percent year on year to 228.62 points. This reading was down from the record high of 229.18 points set in April but slightly higher than the reading in May.
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