The Ghana Statistics Service (GSS) has stated it plans to introduce rebased gross home product (GDP) and shopper value index (CPI) figures by mid-2027.
This train is anticipated to supply a extra correct image of the financial system and permit key financial indicators to raised replicate present consumption patterns and financial exercise.
The Authorities Statistician, Dr. Alhassan Idris, disclosed this on June 9, 2026, whereas showing earlier than the Financial Improvement Committee of Parliament.
He stated the schedule was achievable if funds from the Treasury had been launched on time to assist the remaining levels of the train.
Dr Idris acknowledged the assist already supplied by the Ministry of Finance to this course of.
He stated the apply of rebasing is vital as a result of it helps policymakers and stakeholders make selections based mostly on extra related and up-to-date knowledge.
He additionally appealed to Congress and the general public to view financial knowledge technology as a crucial nationwide infrastructure requirement worthy of sustained funding.
Present progress
The GSS has already accomplished vital groundwork for the rebasing effort, together with gathering the newest knowledge to replace the weightings and construction of each GDP and inflation calculations.
Earlier this yr, Dr. Idris defined in an interview with JoyBusiness that the present CPI basket is based totally on knowledge from the Ghana Dwelling Requirements Survey7 carried out in 2017.
He famous that whereas the burden reference interval remained as of 2017, the value reference interval was up to date in 2021 to include the six new areas created in Ghana.
He stated knowledge assortment for the eighth spherical of the Ghana Dwelling Requirements Survey has been accomplished and can kind the idea for brand new CPI and GDP estimates.
“The final time we did it was in 2017 and it mirrored the consumption patterns at the moment, so this new factor will certainly impression the consumption patterns of customers,” he stated.
Inflation is at the moment measured utilizing a basket of 307 gadgets bought by households from 57 markets and eight,337 retailers throughout the nation. Gadgets are labeled into 13 divisions, 44 teams, 98 lessons, and 156 subclasses.
Inflation and its impression on GDP estimates
The introduction of a brand new base yr is anticipated to have an effect on how inflation and GDP are measured.
Economists say the revised methodology might lead to decrease or larger inflation charges, or a quantity that extra precisely displays present market circumstances.
This rebasing might additionally lead to important adjustments to Ghana’s GDP estimates.
Related efforts had been undertaken in 2010, when the GDP reference yr was modified from 1993 to 2006, growing Ghana’s GDP by greater than 60% and contributing to elevating the nation to decrease center revenue nation standing.
Analysts consider the upcoming train might as soon as once more change perceptions of the scale and construction of Ghana’s financial system.
Talking lately on JoyNews’ PM Categorical Enterprise Version, Dr. Idris acknowledged that the rebase train “will certainly change the dynamics going ahead.”
latest inflation developments
Ghana’s inflation price has fallen sharply over the previous yr, falling from 23.5% in January 2025 to three.7% in Could 2026.
Nevertheless, inflation is beginning to rise little by little after months of continued decline.
Dr. Idris lately attributed the slight improve in meals costs to rising meals costs, stressing the necessity for governments to take care of fiscal self-discipline whereas investing in meals programs, storage infrastructure, irrigation and transportation.
He additionally known as for measures to deal with regional inequalities in market entry to restrict future value pressures.
