The annual salary of the manager of a sports goods store has changed in the following way
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The annual salary of the manager of a sports goods store has changed in the following way between 1997 and 2000. Use the RPI figures for those years to see whether the increases in her salary have kept up with the cost of living.
1997 1998 1999 2000 Salary (£000) 24 26 27 28 RPI (1987 = 100) 157.5 162.9 165.4 170.3
(Source: ‘Retail Price Index’, ONS. Crown Copyright. Reproduced with the permission of HMSO and the Queen’s Printer for Scotland)
We can ‘deflate’ the figures for 1998, 1999 and 2000 so that they are expressed in ‘1997 pounds’ by multiplying each of them by the ratio between the RPI for 1997 and the RPI for the year concerned.
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