U.S. Jewelry Price Inflation +6% in February

jewelryU.S. consumer price inflation (CPI) in February for the jewelry sector jumped 6.4 percent year on year to 182 points, according to government figures released today. The reading was below the record high of 185 points set in January and the lowest measure since November. Nonetheless, the CPI for jewelry has now remained above 170 points for fourteen consecutive months, reflecting higher prices for precious metals, diamonds and gemstones.

Meanwhile, the CPI for all product categories in February rose 2.9 percent year on year to a record 228.4 points. Inflation rose in large part due to a 13 percent surge in gasoline prices.

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