The base year effect illustrates how data from a specific base year chosen influences comparative economic and financial analyses.
Constant Prices refer to prices that have been adjusted to remove the effects of inflation, using a base year as a reference to enable consistent comparison over time.
A particular time in the past used as the yardstick or starting point when measuring economic data. It is typically a year or an average of years, but can also be a month or other time period.
Base-year analysis is a method for analyzing economic data by using parameters from a specified year to eliminate the effect of inflation, allowing for an accurate comparison over time.
Learn what a base year is, its uses in economic and financial analysis, and examples to illustrate its importance in tracking growth and indexing.
