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

Discussion in 'Business Applications' started by quickvet7, Jan 30, 2013.

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  1. quickvet7

    quickvet7 Thread Starter

    Joined:
    Jan 30, 2013
    Messages:
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    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:
     
  2. etaf

    etaf Moderator

    Joined:
    Oct 2, 2003
    Messages:
    65,252
    First Name:
    Wayne
    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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