Statistical issues will come under the microscope when Statistics Week is observed from October 12 to 17.
Data Revolution for Sustainable Development in CARICOM ??? Designing and Operationalising a Framework for Statistics in the Post 2015 Development Agenda, is the theme of the week, which will start on Sunday, October 12, with a church service at Sanctuary Empowerment Centre, Country Road, St. Michael, beginning at 10:00 a.m.
The following day, Monday, October 13, there will be a lecture for staff of the Barbados Statistical Service on Renewable Energy at Baobab Tower, starting at 10:00 a.m. Richard Singh of Innogen Technologies will deliver the lecture.
Over the past two years, staff members have attended the University of Southampton and studied for a Masters in Social Statistics, while others participated in short summer courses in Statistical Research Methods at the University of Michigan. These staffers will make presentations on what they have learnt on related areas of statistics to their colleagues on Tuesday, October 14.
Caribbean Statistics Day will be observed on Wednesday, October 15, and the Barbados Statistical Service will launch the Producer Price Index and the Import and Export Price Index in the Bridgetown Conference Room, Baobab Tower, starting at 2.00 pm.
The Producer Price Index (PPI) measures the average change over time in the selling prices received by domestic producers in the manufacturing sector for their output. The PPI Price collection began in June 2011, with initial prices for May 2011.
The Import and Export Price Index is designed to capture the change in prices in Barbados. Foreign trade price indices allow policy makers to analyse the impact of international trade on growth and inflation in the domestic economy. These price indices will be used as inputs to the System of National Accounts, to deflate the foreign trade component of the Gross Domestic Product.
Export and Import Price Indices will also be a useful tool in tracking trade flows in real terms by breaking down changes in the value of traded goods and services into price changes, volume changes, or both.
Statistics Week will climax with training in General Skills for staff of the Barbados Statistical Service on Thursday and Friday, October 16 and 17.