base year

= base date
The first of a series of years in an index. The value of the index in that year is often denoted by the number 100, enabling percentage rises (or falls) to be seen at a glance. For example, if a price index indicates that the current value is 190, this will only be meaningful if it is compared to an earlier figure. This may be written: 190 (base year 1987 = 100), making it clear that there has been a 90% increase in prices since 1987.

Big dictionary of business and management. 2014.

Look at other dictionaries:

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