I have a Price List named "Raw Materials Price", and I need to pull from "Component Cost Increase" module the % increase by Component, Plant and Period (Jan 2021), hoy can I consider the period in the lookup formula?
It is not best practice, for this reason as well as others, to put transactional data as properties of a list. Instead, create a "transactional" module using this list as well as Time with a line item of Price and import the data into that. This will help with performance of the model as well as getting the data to other modules. While you are at it, load the UOM attribute to a SYS module and you can, using formulas, determine the Plant and Component based off the member.
For more information on this, take a look at this article: