What is the definition of Reference base period? | Dictionary.net

REFERENCE BASE PERIOD

\ɹˈɛfɹəns bˈe͡ɪs pˈi͡əɹɪəd], \ɹˈɛfɹəns bˈe‍ɪs pˈi‍əɹɪəd], \ɹ_ˈɛ_f_ɹ_ə_n_s b_ˈeɪ_s p_ˈiə_ɹ_ɪ__ə_d]\

Definitions of REFERENCE BASE PERIOD

1910 - Black's Law Dictionary (2nd edition)

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The year that is used as a reference point to measure inflation. In the base period, the Consumer Price Index receives a value of 100. If the CPI then goes up to 130, this means that prices have risen 30%.

1910 - Black's Law Dictionary (2nd edition)
By Henry Campbell Black

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