IDEX Polished Price Index Keeps Sliding in November
December 02, 25
(IDEX Online) - The IDEX Polished Price Index fell by 1.72 per cent in November as the downward trend continues.
Underlying demand remains soft, inventories remain high in key centers, and competition from lab growns is forcing sellers to discount natural stones.
The result is month after month of modest but persistent price drops.
The Index closed the month down 45 per cent on its March 2022 peak. It has been in almost constant decline since then, with the exception of three brief surges between June and September of this year, prompted by US tariff anxiety.
Since then, the Index has corrected itself and returned to its day-by-day slide. November's 1.72 per cent drop was steeper than October (-0.48 per cent) but more moderate than September (-2.08 per cent). The Index fell 0.99 per cent in August.
The overall trend remains downwards, as it has been for more than three-and-a-half years. The rate of decline remains constant, based on the Index average for the years 2023, 2024 and the first 11 months of 2025.
Month-to-month prices fell by 0.9 per cent in November, compared to -2.2 per cent in October. The trend remains downwards. Month-to-month prices have risen only five times in the last 43 months, from March 2022, and when they have risen, it's mostly been by only a fraction of a per cent.
Year-to-year prices were down yet again in November by 9.9 per cent, following on from a 9.0 per cent drop in October. Over the last three months the rate of decline has increased slightly.
But overall, since January 2025, monthly falls have been relatively constant - between 8.1 per cent and 13.4 per cent.
Larger goods - 3.0-cts to 5.0-cts - all showed gains in November. The smallest goods shown below (0.5-cts) suffered the most severe losses, the biggest (5.0-cts) showed the strongest increase. 1.0-cts were down 1.9 per cent.
Year-on-year prices in November were broadly similar to those in the last three months, with the biggest drops among the smallest and largest goods shown below. 0.5-cts were down 20.1 per cent, 1.0-cts by 14.0 per cent and 5.0-cts by 11.0 per cent.
The overall trend remains downwards for goods up to and including 2.0-cts, but there were increases for 3.0-cts, 4.0-cts and 5.0-cts.
