Audio By Carbonatix
Barring any last minute hitches, the Ghana Statistical Service will from next month use the new basket of goods and services to measure inflation.
This means May’s inflation figure would be calculated using this new basket of 267 items to reflect the current consumption pattern on the market.
This should see non-food items, like transportation, communication, and health account for almost 60 percent of goods in the basket and the remainder for food items.
Just like the rebasing of the country’s GDP estimates that has put the value of the economy at the last quarter of 2012 at a little over 20 billion cedis, the review in the way inflation is calculated is also to ensure that the rate better reflects what pertains on the ground.
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:
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.
Latest Stories
-
Asha Bhosle: The sound of Bollywood dies aged 92
20 minutes -
Fire destroys bedroom in Tantra Hill apartment
22 minutes -
Safe city: Unnoticeable protection
29 minutes -
North East Regional Police Commander raises alarm over burning of checkpoints
38 minutes -
Free Primary Healthcare Programme set for take-off — Health Ministry confirms readiness
53 minutes -
3 co-wives, 5 children perish in canoe disaster – Maritime Authority insists life jackets use mandatory for all water transport
2 hours -
Iran war lands ‘triple blow’ to flood-ravaged Sri Lankans
2 hours -
Gunmen kill at least 11 people at Afghanistan picnic spot
2 hours -
Woman, 25, in court for stealing baby at Bogoso
2 hours -
Trump unveils giant gold-accented victory arch design for US capital
3 hours -
We spoke to the man making viral Lego-style AI videos for Iran. Experts say it’s powerful propaganda
3 hours -
Hungarians vote in big numbers on whether to end Orbán rule and elect rival
3 hours -
At least 30 feared dead in crush at Haitian tourist site
3 hours -
Boxing: Abdul Ahmed wins WBA Africa Cruiserwight title after dispatching Nigeria’s Eradeye
3 hours -
Nearly 2,000 displaced, schools damaged as windstorm wreaks havoc in Gushegu
3 hours