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Base period

a period of time used as a standard of comparison in measuring changes in prices, taxes, income, etc., at other periods of time.
Historical Examples

What was the percentage change in the value of money from the base period to 1912?
Manual of References and Exercises in Economics Frank A. Fetter

(statistics) a neutral period used as a standard for comparison in constructing an index to express a variable factor: 100 is usually taken as the index number for the variable in the base period


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  • Base price

    a price quoted as a base without including additional charges. a price used as a basis for computing freight charges at a basing point, as for steel. Contemporary Examples The base price for that four-door machine: $57,400, which is roughly the price of a BMW 535. A123 Goes Chapter 11 Robert Bryce October 18, 2012

  • Base rate

    the rate of pay per unit of time, as by the hour, or per piece, or for work performed at an established standard rate. Contemporary Examples The Bush tax cuts expire in the plan, and the Buffet rule would tax millionaires a base rate of 30 percent. Obama’s 2013 Budget: Perfectly Reasonable, Absolutely Terrible Daniel […]

  • Base rate fallacy

    noun (statistics) the tendency, when making judgments of the probability with which an event will occur, to ignore the base rate and to concentrate on other information

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