After reviewing the current pricing of literature, based on the cost of goods and inflation, the BPG (Business Plan Group) recommended a literature price increase of at least 5% and no more than an 8% in 2018. After lengthy discussion, the Board approved a 7.5% increase to match the inflation rate on all items except the Basic Text, whose increase was set at 5%. The increase will be effective on 1 July 2018. We wanted to give members ample notice and realize that this may be discussed at the WSC.
The in ation rate since the last price increase is over 7%, and this change will not take place until July 2018. We created a new standard for the future to review the inflation rate and make adjustments every three years rather than waiting as long as we did before this adjustment. None of us want to raise prices, but our costs rise for everything right along with inflation. We only have to look at daily expenses for living such as food and utilities to see how this applies.
In reviewing the history of literature price increases, we saw that we had a 5% across-the-board increase on all recovery literature in 2001; an increase on select items in July 2008; and a 5% literature increase on all items except the Basic Text and a few additional exceptions in 2011.1 We hope that a more regular review will allow for smaller and more incremental increases moving forward.