DeBeers earned more from its diamonds in the first half of the year than any prior interim period, ever. Market prices for diamonds are now near their pre-crisis peaks.
DeBeers reported in their earnings statement that average market prices rose by 35 per cent in the six months to June.
The price climb should be viewed as another indication of the accelerating price inflation. Looks like Paul Krugman won't be able to include diamond prices in his super-core price index, perhaps ant spray.
Got a laugh outta me!
ReplyDeleteMaybe Krugman should just watch the price of lottery tickets.