The Ghana Statistical Service is expected to use a new mechanism to compute inflation from next year.
It follows a review of the basket of goods used in measuring the index.
Head of Economic Statistics Ebo Duncan explained to Joy Business though the service has settled on the goods and services which will now be used to assess inflation, they need to collect data that will enable them compute.
Mr. Duncan also explains what went into the review.
Just like the rebasing of the country’s GDP estimates which put the value of the economy at 44 billion Ghana cedis, the review in the way inflation is calculated is to ensure that the figures better reflect what pertains on the market.
For instance, Ghanaians spend a lot more on mobile phone talk time than they used to, the last time the basket was reviewed.
Source: Joy Business/Ghana
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
Latest Stories
-
I’ll not compromise on the interest of Ghana – Dr Ayine
10 minutes -
Monetary finance must be eliminated – Ato Forson
22 minutes -
We’ll review, analyse, and ensure proper accountability – Jinapor on Gold for Oil policy
30 minutes -
Jinapor unveils ambitious plan to revive dormant refinery
31 minutes -
Breaking barriers: The inspiring tale of a single mother who achieved her PhD dreams on a foreign land
38 minutes -
Afenyo-Markin walks out on Appointment Committee during Ayine vetting
49 minutes -
KNUST appoints Kwasi Debrah as Digital Communications Officer
1 hour -
Volta Region to receive fair share of appointments in Mahama’s gov’t – V/R NDC Chairman
1 hour -
Timely and strategic approach to revitalise Ghana’s agricultural sector is needed – Klutse Kudomor
1 hour -
Fuel supply, financial challenges top priorities for energy sector – John Jinapor
2 hours -
We won’t engage in sole sourcing for ECG private sector participation – Energy Minister-designate
2 hours -
Photos from John Jinapor’s vetting for Energy Minister role
2 hours -
Public procurement and corruption in Ghana: Challenges and sustainable solutions
2 hours -
Seize campaign activities, work on rebuilding party – NPP Council of Elders tells members
2 hours -
We don’t intend to privatise VRA and Bui Power – John Jinapor
2 hours