I think your formula is a little advanced for me, or I'm dumb. So I did a bit of research based on the first bit of your formula that I did understand and came up with something a little long winded but it seems to do the job.

=IF(P44>($R$50),"POA",IF(P44>($R$49),"GROUP 8",IF(P44>($R$48),"GROUP 7",IF(P44>($R$47),"GROUP 6",IF(P44>($R$46),"GROUP 5",IF(P44>($R$45),"GROUP 4",IF(P44>($R$44),"GROUP 3",IF(P44>($R$43),"GROUP 2",IF(P44<=($R$44),"GROUP 1")))))))))

I put the variable group numbers in a seperate box so that when the prices rise I can just increase them by the percentage. I'm sure you think this is a long winded way of doing things but its a revelation to me :-)

Thankyou for your help, it would have taken me far longer to get where I am now without your assistance.