What is the average PPI for this item for $2012,2013,$ and $2014?$ Do you believe the price index for this item is relatively stable or volatile?

In retrospect, was the decision to pursue fixed pricing with this supplier a good economic decision from the buyer's perspective? Why or why not? Provide quantitative evidence.

What was the percent change in the index from June $2012$ to July $2012?$ What was the percent change from January $2014$ to April $2014?$ What could have caused these changes in prices and therefore, the index?

If the buyer intends to renew the agreement for another two years with this supplier, do you feel the $3\%$ price increase is reasonable? Why or why not? What other information might you need to know to make an informed decision?

What type of pricing arrangements or language would you propose for this contract if it is renewed?