The U.S. consumer price index (CPI) for jewelry fell 1.3 percent year on year in October to 179.2 points in response to slightly weaker prices for precious metals and continued softness in polished diamond prices during the month. The index was 1.32 points less than September's reading, Rapaport reported.
However, the CPI remains at historically high levels and October's measure marked 22 consecutive months of a reading of more than 170 points. The CPI reached a record 185 points in January, but then prices for polished diamonds, gold and platinum eased.
For all product categories combined, the CPI rose 2.2 percent year on year in October to 231.8 points, setting a new record high.
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