The US consumer price index (CPI) for jewelry in March 2014 decreased by 2.6% year-on-year to 172.12 points, only slightly higher than the corresponding figure in February, Rapaport reports.
Despite the decline, taking into account the data for March CPI exceeded the average mark of 170 points for 39 consecutive months, continuing a steady trend towards inflation.
CPI for the clock in March remained generally stable, slightly increasing by 0.6% to 122.97 points.
The reduction in CPI for jewelry in the reporting month was affected by price pressure on commodities. Gold prices in March were almost 17% lower than the corresponding values a year earlier, and platinum fell in price by 10% on a year-on-year basis.
In March, the RapNet diamond price index (RAPI) for certified 1 carat stones fell by 2.6%. The price index for diamonds weighing 0.5 carats increased by 5.4%, and diamonds weighing 0.3 carats went up by 13.1%. For the reporting month, stones weighing 3 carats fell in price by 1.5%.
The general consumer price index for all categories of products in March increased by 1.5% on a year-on-year basis and reached a new record level of 235.64 points.