Department of National Accounts, Trade and
PricesPrices Division
Function: This
division's main function is the compilation and publication of Consumer
Price Indices using prices collected from the urban centers of Guyana.
Consumer Price Indices are used for monitoring of changes in prices of a commodity basket.
The items which make up the baskets used by the Bureau were selected after
the completion of a Household Income and Expenditure Survey (HIES) in
1992/3. The Georgetown basket consists of two
hundred and thirty eight (238) items (goods and services), which are further categorised
in nine (9) groups.
The Georgetown Consumer Price Index (CPI) is the
main tool used by the Government to measure the rate of inflation, and is
also used by trade unions, international organisations and members of the
public for monitoring changes in prices.
Data collection: Prices are collected
on many items ranging from consumer items such as food and beverages to
hardware. For the
compilation of the Georgetown Consumer Price index prices are collected weekly from five (5) markets, and
monthly (15th of each month to the end of the month) from seventy
six (76) outlets such as supermarkets, stores, gas stations, hospitals,
restaurants, eating houses etc.
The index is compiled
monthly and is distributed to all stakeholders and is known as the
Georgetown Consumer Price Index. The All-Urban price index is also compiled,
which monitors the changes in prices for all of the six urban centers in the
country (Anna Regina, Georgetown, New Amsterdam, Rose Hall, Corriverton, and
Linden). However, the Georgetown index is usually available first each
month, as it requires more time to survey all the towns and produce the
All-Urban index. The indices are published monthly, usually in the newspapers.
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