[ 2012-05-24 ]

Dr Philomena Nyarko, acting Government Statistician

2011 is new base year for measuring inflation - GSS
The Ghana Statistical Service will next month
launch the new base year for measuring inflation.
It will use 2011 as reference base year.

This will result in new weightings for the
components of its Consumer Price Index (CPI)
basket. The rebasing will also increase the number
of goods in the inflation basket from 242 to more
than 270.

Head of Economics and Statistics Department at
the Ghana Statistical Service, Magnus Ebo Duncan
in an interview with XYZ BUSINESS said the review
was necessary because most people’s expenditure
have changed.

“With time people tend to spend a lot on one item
than the other. There are shifts in the
consumption patterns and expenditure patterns. So
these, together, will influence the new figures
that comes out.”

He however stated that the methodology for
computing the figures will remain unchanged.

“The methodology will remain the same. The same
formula will be used, the same concept will be
used. It is only the items that are being reviewed
and then the expenditure weight too.”

Source - RadioXYZonline.com

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