Alright, so Jagex, for some reason changed the "Climbing Boots" item into "Rock Climbing Boots", and gave it some stats. They also made them high alch for 45k.
Just to clarify, they turned an item worth 12 coins, into an item worth 45k. That anyone could have any number of. Do you see the problem here?
These "Rock Climbing Boots" are a new item, with some stats, unlike the old "Climbing Boots", that did not. But wait, these "Climbing Boots" still exist. Exactly the same.
So Jagex pretty much created a new item, then converted all of the cheap, existing items into it. This led to a price increase of 4,317%. That's ridiculous. Say I bought 1 million gp worth of climbing boots before the update. This update would make me be worth 4.3 billion gp.
Also, some Moderators leaked news of this update to their friends, leading to them buying all of the climbing boots, and making obscene amounts of money.
Finally, this reaaallly isn't going to help with Runescape's inflation issue. Really isn't.