Base Period
A particular time period for which data is gathered and used as a benchmark against which economic data from other periods is measured.
Also referred to as "reference period."
Think of this as a yardstick for economic data. For example, if a price index has a base year of 1990, current prices are being compared to prices in that time period.
A particular time period for which data is gathered and used as a benchmark against which economic data from other periods is measured.
Also referred to as "reference period."
Think of this as a yardstick for economic data. For example, if a price index has a base year of 1990, current prices are being compared to prices in that time period.
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