By Rawle Lucas
Indicator of Price Level
The Guyana Bureau of Statistics reported in its Statistical Bulletin that, by December 2007, the Consumer Price Index (CPI) for all items had risen by 30 points from where it was one year ago in December 2006. Most people look upon the CPI as an indicator of the current price level in the country, even though it is primarily about life in Georgetown and areas close by.
However, with many citizens having to travel daily from parts of Berbice, Essequibo and distant parts of Demerara to Georgetown to work, do business and shop, the Georgetown prices are also about them and their lives. Consequently, the 30-point rise in the CPI, which translates into a 14 percent increase in the average price level between the two points in time, is an issue for most Guyanese. Since every price in Guyana seems to be a multiple of a G$100, what this meant was that by December 2007, Guyanese had to find G$14 more to add to every hundred dollars to buy anything. On the face of it, this increase in price looks inconsequential and may probably be dismissed as insignificant by those with deep pockets.