|Base year (BSYR)
|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