Ghana’s Finance Minister, Dr. Cassiel Ato Forson, has directed the Ghana Statistical Service (GSS) to prioritize the rebasing of the country’s Gross Domestic Product (GDP) and Consumer Price Index (CPI) figures, with completion targeted for 2027.
The directive underscores the government’s focus on modernizing economic data infrastructure to better reflect current market realities and support evidence-based policy decisions.
The rebasing process involves updating the weights and methodologies used to calculate these key macroeconomic indicators, ensuring they align with the evolving structure of Ghana’s economy.
Accurate and timely data is critical for the Bank of Ghana as it navigates inflationary pressures and formulates monetary policy, particularly in the context of the nation’s broader economic recovery efforts.
This move comes as global markets continue to scrutinize inflation data for signs of cooling or persistent price pressures.
While recent reports from other major economies, such as China’s modest CPI rise, highlight the global focus on price stability, Ghana’s initiative aims to enhance the reliability of its own domestic metrics.