GhanaJune 2012 | Risk Summary
The Ghana Statistical Service (GSS) has announced that it intends to update its consumer price inflation (CPI) index in 2013. This is good news since the current index - which is based to 2002 - is outdated; best practice is to rebase the index at least every five years. As we have highlighted previously, the current weightings in the CPI basket appear to be causing downward bias for reported headline inflation. However, the new index could ignite wage bargaining, since workers will have proof of the rapidly-rising cost of living.
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