Crazy Microsoft Office Pricing

Am I missing something or is it cheaper to buy Microsoft Office components seperately rather bundled in one package?

Office Home and Student edition for £119 (£96 on amazon) contains the main office suite - Word, Excel, PowerPoint, OneNote.

Office Standard for £349 (£292 on Amazon) contains - Word, Excel, PowerPoint, Outlook.

Outlook by itself is £85 (same on Amazon). So let's see Office Home and Student PLUS Outlook seperately is £96 + £85 = £181 and you have OneNote as an extra bonus (not that I'd ever use it).

Based on Amazon prices I'd be paying an extra £110 for the privellege of buying office with outlook in one box. Based on RRP I'd be paying £145 more. Plus I'd be losing OneNote.

Is there something I'm missing or is Microsoft really bad at math. The sad thing is a lot of people won't notice this and will pay the extra £110-145 for a standard office edition - Madness!