Statistical
deception

Last week I examined one of two recent instances of what I described as official misuse and abuse of Guyana’s economic statistics. That was the absurd inference contained in the Minister of Agriculture’s boast where he stated that, since the PPP/C administration assumed office in 1992, Guyana’s GDP at current prices (nominal GDP) has increased by over 15 times.  This I suggested is a statistical deception and should not deceive anyone with the faintest acquaintance with economics or who has had personal experience of Guyana’s economic performance since 1992.

I had also brought to readers’ attention that the GDP at current prices has to be deflated by a GDP deflator (which measures price changes for items in the GDP) to arrive at real GDP growth before making comparisons over time for the same country. As noted the GDP deflator is…..