Base Year

Business, Legal & Accounting Glossary

Definition: Base Year


Base Year


Full Definition of Base Year


The year used as the basis for comparison by a price index such as the CPI. The index for any year is the average of prices for that year compared to the base year; e.g., 110 means that prices are 10% higher than in the base year. The base year is also the year whose prices are used to value something in real terms or after adjusting for inflation.


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Base Year. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
December 03, 2021 https://payrollheaven.com/define/base-year/.
Chicago Manual of Style (CMS):
Base Year. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
https://payrollheaven.com/define/base-year/ (accessed: December 03, 2021).
American Psychological Association (APA):
Base Year. PayrollHeaven.com. Retrieved December 03, 2021
, from PayrollHeaven.com website: https://payrollheaven.com/define/base-year/

Definition Sources


Definitions for Base Year are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 20th November, 2021 | 0 Views.