RAPAPORT... The U.S. consumer price index (CPI) for jewelry in the month of December 2011 rose 7.8 percent year on year to 181.9 points, the highest reading ever for the month. December's reading was 1.4 points higher than November's and marked the third consecutive month with a historic reading above 180 points. Jewelry price inflation for the year rose 9.5 percent to a record monthly average of 176.5 points. Jewelry prices throughout 2011 were driven higher by record gold prices and double-digit increase for diamonds.
The CPI for all product categories during December rose 3 percent year on year to 226.75 points, which was just slightly lower than the record high set in September. The CPI for the year 2011 rose 3.15 percent year on year.