how to choose base year to calculate index no.
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In the calculation of an index the base year is the year with which the values from other years are compared. The index value of the base year is conventionally set to equal 100.
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The base year is the year in which an index is set to 100. While computing macroeconomic numbers such as inflation or economic growth rates, indices are used. To monitor prices, the statistical agencies of the government will choose a basket of goods, and set the value of this basket to 100, for a chosen base year.
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