Friday, July 19th 10:19 AM IST

US Jewelry sales rise 7.6% in May

# jewelry. US jewelry sales  # gold  # silver  

May's figure also benefited from benign consumer price inflation (CPI), which was flat. U.S. jewelry store sales for the January through May cycle have improved 10.5 percent to $12.661 billion.

WASHINGTON (Bullion Street): US jewelry store sales witnessed a growth of 7.6% year-on-year in May at $3.014 bn.Excluding the month of December, which historically records the highest monthly total for jewelry sales, May's figure was the largest month to date for any previous January through November total.

May's figure also benefited from benign consumer price inflation (CPI), which was flat. U.S. jewelry store sales for the January through May cycle have improved 10.5 percent to $12.661 billion.

In other retail news, advanced estimates for the month of June reflected poor performance at department stores, where sales plunged 5.7 percent year on year to $13.6 billion. Total retail and food services sales, excluding the auto industry, rose 2.7 percent to $339.1 billion. Nonstore retail sales surged 13.8 percent. Retail trade sales rose 6 percent.

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