Reference price (prior price)

Reference price (prior price) — under the Omnibus Directive, the price against which a discount must be measured. It is the lowest price the trader applied during at least the 30 days before a price reduction, and it is the figure that must appear as the “was” price in any “was / now” display.

For progressive discounts, the reference price is anchored to the lowest price applied before the first reduction rather than being reset at each stage. See the reference-price FAQ and the 30-day rule explained for worked examples.