Inflation

Inflation

B.
(i) A well known annual book was priced at ÂŁ17 when published in December 2005. The most recent edition published in December 2010, was priced ÂŁ22.
The Retail Prices Index stood at 194 in December 2005 and 228 in December 2010
(ii) The publishers of the book have stated that “any future price increases will be index linked to the RPI”. Explain what this statement means, using a numerical example if required.

 

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