I bought my Korean Squier by Fender P-bass in 1998 for £230 (well, it was £180 after a part-exchange of my first bass, a Hohner Rockwood Pro), which according to that website is £398 in today's money. The non-Affinity and non-anniversary Squier P-basses listed on Fender's website are all around £400, so it would seem that they have been keeping up with inflation.