Yeah, yeah, but how does this fit with my experience? I have one observation to report. I purchased my undergraduate econometrics text, Jan Kmenta's Elements of Econometrics, which I struggled with and grew to dislike intensely, but for unaccountable reasons have kept all these years (maybe as a reminder to stay humble, very humble), for spring semester of my junior year, so early 1977. The price--not stamped, not stickered, and, of course, not bar-coded--is written in pencil on the inside, first sheet after the cover: "$19.95".
While a second edition of Kmenta is, apparently, still in print, I will ignore that. I can't imagine any university professor assigning it in 2015 given that there are many better choices available. One such better option is Stock and Watson's Introduction to Econometrics. Amazon quotes a list price of $260, but they'll sell it to you for $185.37.
So at the list price, there's been an increase of 1203%; at the preferable transaction price, the increase is 829%. Either percentage is reasonably close to 1041%, or as they say in D.C., "close enough for government work".
But--and this is an important "but"--Stock and Watson is a much better text. Is it eight times better than Kmenta, 1st edition? It's hard to say, but probably . . . close enough.