Formula for applying 6-monthly price increases based on annual inflation rates

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quickvet7

Thread Starter
Joined
Jan 30, 2013
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1
Dear Tech Guy/s
I work in veterinary practice.
I want to apply 6-monthly price increases across-the-board based on the annual inflation rate for the preceding 12 months.

Can you help with the formula I need to construct?

i.e. where

C = current price
N = new price at 6 months = current price + percentage increase required
I = Known Inflation figure for the preceding 12 months (percentage)

Cheers
quickvet7
:confused:
 

etaf

Wayne
Moderator
Joined
Oct 2, 2003
Messages
65,454
if you just want to increase by the inflation percentage then

depending on how the percent is formatted
say inflation was 2.3%
is the cell 2.3 formatted as a percent
or 0.023
or just as 2.3 in a cell
you need it to be a % so 0.023
and therefore may need to divide by 100
N = C * (1+ I )
OR

N = C* (1 + ( I/100 ))

in the example N = C * 1.023
 
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