base year

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Base Year

The year against which the performance of an index is measured. For example, suppose the base year is 2001 and the initial value of an index is 100. If the index is 150 in 2009, it means that the value of the index is 50% higher in 2009 than it was in 2001. It is also called the reference year. See also: Base Value.

base year

the initial period from which a system of INDEXATION proceeds. For example, the present UK Consumer Price Index has as the base period 1996 = 100, with the average price of a typical basket of goods in 1996 being taken as the basis for the index. The 2004 index number was 111 for all items in the basket of goods. Convention dictates that the base period always commences from the number 100. See PRICE INDEX.

base (expense) year

In commercial leases, the year used as a measure of a tenant's obligation to pay the pro rata share of ever-increasing building expenses over time.The rent for the first year is usually calculated by the landlord so as to pay currently known building expenses and provide a profit. This is usually the base year. As expenses increase over time, the amount they exceed the expenses of the base year is the figure the landlord uses to calculate the tenant's pro rata share of the expenses.

References in periodicals archive ?
The latest reference year, 2011, puts China's GDP at 87 percent of that of the U.
The percent changes in the Fisher indexes are not affected by the choice of the reference year.
Even the best chefs and bakers fall flat until they understand the basics of elevation baking, this book will be their reference year after year.
He went on to say that current oil prices are nominal prices, adding that if one wants to find out real prices based on 2000 as the reference year, the real value of the current prices should be deemed at 70 or 80 dollars per barrel that cannot harm world economy.
During the same period, the German market behaviour was judged as positive and encouraging, as 255,000 German tourists have chosen Tunisia's destination, that is a 71% rise compared with 2011 and a 12% negative variance compared with 2010, the reference year.
Choosing 2007 is to try and see what the growth was before the global financial crisis and what it would look like after the financial crisis, so we're using it as a reference year.
1280) measured 20 PCB congeners in serum from surgically confirmed endometriosis cases newly diagnosed between 1996 and 2001 and from female controls matched for age and reference year.
One year on from its announcement that it would cut its global carbon footprint by 20 per cent a year against the reference year 2007, the bank has made further significant progress in neutralising its carbon emissions.
The Statistical Service reported that the national accounts data for the year 2007 have been revised on the basis of the final results from the economic surveys for the reference year, while the revised data for the year 2008 is based on the most recently available indices.
The reference year used to calculate the amount to be integrated will be 2008.
This represents an increase of 25% in comparison with 2001 which is considered by professionals as a reference year, he said.
7 percent in 1997, the reference year for the Maastricht convergence criteria.