Term:
Weight reference period
The period whose value shares serve as weights for a set of price relatives or elementary price indices. It does not have to have the same duration as the periods for which the index is calculated and in the case of a PPI is typically longer, a year or more, rather than a month or quarter. Nor does it have to be a single period as in the case of symmetric indices such as the Marshall Edgeworth, the Walsh and the Törnqvist price indices.