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Glossary - Definition of Term

Term
Base year (BSYR)
Definition The use of the term base year in this publication refers to index reference-period.
The base period is generally understood to be the period with which other periods are compared and whose values provide the weights for a price index. However, the concept of the base period is not a precise one and may be used to mean rather different things. Three types of base period may be:
- the weight reference-period, that is, the period, usually a year, whose values serve as weights for the index, or
- the price reference-period, that is, the period whose prices appear in the denominators of the price relatives used to calculate the index, or
- the index reference-period, that is, the period for which the index is set
 
It is acknowledged that this glossary uses descriptions of the OECD glossary of statistical terms, the Glossary of the System of National Accounts 1993 and the UN classifications registry.
 

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