What is the difference between fixed base and chain base index?
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CHAIN BASE METHOD In this method, there is no fixed base period; the year immediately preceding the one for which the price index has to be calculated is assumed.
Fixed base is easy to understand by a common man as each year's price is percentage of a fixed base year's price. Chain base is difficult to understand by a common man as different year's price is expressed as is expressed as percentage of different base year's price.
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