The US consumer price index (CPI) for jewelry in July 2014 fell 4.5% on a year-on-year basis to 171.97 points, Rapaport reported. The value of the index was slightly higher than the corresponding figures for the previous months, since the lowest mark was recorded in May 2014 at 169.36 points. The consumer price index for watches for the reporting month fell by 0.5% to 123.58 points.
The decline in indices was affected by the prices of raw materials for the jewelry industry, which in the last few months remained at a relatively low level observed. The average price of gold and platinum was 3% and 2% lower compared to July 2013.
The price index for diamonds RapNet Diamond Index (RAPI ™) for stones weighing 1 carat in June fell by 3.5%. The price index for diamonds weighing 3 carats for the reporting month fell by 1.9%. Prices for diamonds weighing 0.3 carats and 0.5 carats rose by 13% and 9.8% respectively.
The general consumer price index for all product categories in July increased by 2% on a year-on-year basis and reached a new record level of 237.91 points.