The consumer price index (CPI) for jewelry soared to a record high in October at 182.6 points, marking a 12 percent year on year increase and the first time the measure exceeded 180 points. October’s reading was also the 45th consecutive month with reading greater than 150 points indicating the prolonged period of higher precious metals prices and, more recently, the increases related to diamonds and gemstones.
So far this year, only the months of May and August recorded slight decreases in the jewelry CPI from the previous month.
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 October to 226.76 points, just slightly less than the record high set in September. The base period for that overall reading was provided by an average of 100 points taken from 1982 to 1984.