The widget industry maintains a price index for a standard collection of widgets. The base year was 1997 until 2007, when the index was recomputed with 2007 as the base year. The following data concerning prices for the years 2005 to 2008 are available:
|
Year
|
Price Index 1997 Base
|
Price Index 2007 Base
|
|
2005
|
125
|
N/A
|
|
2006
|
127
|
N/A
|
|
2007
|
130
|
100
|
|
2008
|
N/A
|
110
|
What was the percentage increase in prices of widgets between 2005 and 2008?