grunnverð

Grunnverð is a reference price used as a baseline for pricing, indexation, and financial calculations in Icelandic contexts. It represents the price level at a chosen point in time, often described as the base price or base year. Changes in prices over time are frequently measured as indices relative to grunnverð, and inflation or other adjustments may be applied to this baseline.

In pricing and contracts, grunnverð serves as the starting point for determining future payments or revisions. For example, a contract might specify that payments will rise according to changes in a price index from the grunnverð of a defined base year. In procurement and tendering, grunnverð can denote the baseline price used to compare bids, before taxes, discounts, or optional items are added.

Grunnverð is distinct from the final price paid by a consumer or client, which includes taxes, fees, discounts, and other charges. The term is equivalent to the English concept of base price and is often defined within contracts or price lists to ensure consistent calculations and comparisons.

Etymology: grunnverð combines grunn, meaning foundation or base, with verð, meaning price. The concept is used across sectors to provide a stable reference point for price movements and contractual revisions.