New pamphlet explains CPI
Index is all about now have an easy way to learn with a new educational pamphlet.
The Statistics department released the pamphlet yesterday entitled "Understanding the Consumer Price Index.'' The pamphlet discusses what the CPI is, its contents and structure, the relative importance of it and various other things that the everyday person using the CPI should know.
It is the first publication of its kind and has been written "primarily to give the many users of the CPI a general understanding of how it is calculated, and how to use it more efficiently and effectively for day-to-day practical applications,'' a department spokesperson said.
He added that the pamphlet describes in detail the composition and organisation of the "shopping basket'' on which the CPI is based.
It further explains how household spending on various goods and services (data collected from household expenditure surveys), determines the relative importance or the weighing pattern for the major sectors of the CPI.
"The price collection methodology is reviewed briefly and a step-by-step mathematical procedure is outlined to show how the monthly CPI index numbers are actually calculated,'' the spokesperson said.
He added: "Lastly, mathematical examples are given to illustrate some of the everyday computations requested by users. These include determining price changes between specific time periods, using the CPI as an escalation or deflation tool and also determining the purchasing power of money.
"This publication can serve as a valuable resource document for private researchers, students, labour unions, and particularly those business organisation which regularly deal with contractual and price-setting agreements which are very often tied to movements in the CPI.'' Copies of this pamphlet are free of charge and can be obtained from the Statistics department on the second floor of the Global House on Church Street.
TRAFFIC WARNING FOR TEE STREET TFC Traffic warning for Tee Street Tee Street in Devonshire will become a one-way street to traffic this weekend.
The Ministry of Works and Engineering said the one-way traffic flow was necessary to assist Island Construction Limited with the installation of a new underground water main.
The traffic flow will be one way from the junction of South Road to the junction with Berry Hill Road.
Motorists are asked to comply with the traffic control devices which have been installed.
Police in boost to stop crime It was hoped they would help to keep such programmes going -- currently there was a tendency for them to break up after six months or a year, he said.
"Usually what happens is this. When people get three or four break-ins in their neighbourhood we get called to give neighbourhood watch talks, and launch the scheme.
"Initially everybody is keen and we tell everybody to meet on a regular basis. But as the fear factor decreases, people lose interest and after a relatively shortly period the group ceases to exist.
"Even when this happens, however, some good is usually left behind. When I talk to people about neighbourhood watch schemes I explain how people can make their homes secure, and I explain their rights to protect themselves and neighbours under the law, and I explain about prohibited and offensive weapons.'' He added: "We have a brochure on neighbourhood watch schemes we keep reprinting.
"We revise the brochure and it was reprinted this year. We encourage people to form such schemes.'' Insp. Jones said the neighbourhood watch scheme idea may be used to combat crime in St. George's.
The idea could be raised shortly at a meeting with the Mayor of St. George's the Wor. Henry Hayward.
Insp. Jones also highlighted another community initiative -- raising schoolchidren's awareness of road safety.
She said W.P.c. Tracy Armstrong was the new road safety officer.
"She's going to be implementing programmes in the schools because one of the Commissioner's greatest concerns is the number of road accidents.''
