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.
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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.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005

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.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
Going by the old base year of FY08, that was being used for determining the CPI until now, the key inflation index comes in at 11.63pc for the month of August, showing a 1.64pc increase over the month of July.
In the new base year (2015-16), National CPI for 12 major groups is also computed by taking weighted average of urban CPI and rural CPI.
It will be very interesting to see whether the SBP will use the new base year numbers or the old base year numbers for its interest rate decision, said Umar during the standing committee meeting.
General Surgery Procedures, Base Year 5-Year Forecast, Guatemala
As for skeleton buildings, the PCBS said that The Construction Cost Index (CCI) reached 104.98 with a decrease of 0.40% in the West Bank* during April 2019 compared with March 2019 (base year 2013=100).
Chart 2 shows the production weights by industry sectors for the base years 2005, 2010, and the latest, 2015.
The CPI for December is 118.9 and, for 2018, the CPI is 117.3 since the base year used is 2012.
With average annual growth rate for four years between 2014-15 and 2017-18 under the NDA rule at 7.4 percent, the routine exercise of coming up with a back-series immediately after the change in base year has resulted in a political slugfest.
The award amount is estimated at $440,337,473 for the base year. Actual obligations using resale stock activity group, defense working capital funds will occur upon issuance of delivery orders during the period of performance.
In an economic bulletin sent to reporters, the DOF forecasts March inflation to hit 4.1 percent using 2012 as base year, a fresh peak for monthly inflation.
So far, the base year 2007-08 is being utilized for evaluating the inflation, which has now gone