The Ghana Statistical Service (GSS) is expected to commence the use of rebased Consumer Price Index (CPI) and Gross Domestic Product (GDP) numbers from 2027.
This follows the completion of the ongoing rebasing exercise, which the GSS aims to finalise by the end of 2026.
Government Statistician Dr. Alhassan Iddrissu disclosed this on PM Express Business Edition, hosted by George Wiafe, on 12 February 2026.
According to the Government Statistician, the current Ghana Living Standards Survey 7 was conducted in 2017, so “the weight reference period is 2017, but the price reference period has been updated to 2021 to incorporate the 6 new regions.”
Dr. Alhassan revealed that “We have just finished collecting data for the Ghana Living Standard Survey 8, and our plan is that by the end of 2026, the service will have the CPI and GDP estimate rebased.”
“The last one we did was in 2017, and it did reflect the consumption pattern at that time, so this new one will definitely affect the consumption pattern of consumers,” he added.
Currently, inflation is measured based on the prices of 307 items in the CPI basket purchased by households from 57 markets with 8,337 outlets. The items are categorised into 13 divisions, 44 groups, 98 classes and 156 subclasses.
Impact on Inflation and GDP Estimates
Using a new base year and rebased numbers is expected to affect the country’s inflation rate measurement from next year as well as the GDP estimates.
This could result in a lower inflation rate, a higher one, or a rate considered “more market reflective”.
The development may also affect GDP estimates. This mirrors the change made in 2010 when the GSS updated the base year for GDP from 1993 to 2006, which increased Ghana’s GDP by more than 60 percent and moved the country into lower middle-income status.
There are also indications that Ghana could soon move into the upper part of the low-income category.
Speaking on PM Express Business Edition, the Government Statistician acknowledged that the upcoming rebasing “will definitely change the dynamics going forward”.
“We also have a methodology that will help the Ghana Statistical Service to use historical data to aid measurement going forward,” he added.
Recent Inflation Rate Developments
Ghana’s inflation rate has dropped from 23.5 percent in January 2025 to 3.8 percent in January 2026, a development that has raised questions about the integrity of the data.
But speaking on PM Express, the Government Statistician argued that the current figures reflect prevailing economic conditions.
“There is only one body in Ghana, which is the Ghana Statistical Service, which goes around all these markets and regions to collect prices; therefore, a body that has not done this work or an individual might not be in the right position to challenge our numbers,” he argued.
Dr. Alhassan also stated that “maybe the time has come for us to appreciate and understand how inflation is interpreted”.
He further explained that four key factors have contributed to the sharp decline in inflation over the past year.
Dr. Alhassan noted that he was not surprised that inflation has come down due to improved macroeconomic conditions, favourable economic management, real sector movements and the impact of the base effect.
According to him, the work of the Ghana Statistical Service has also contributed to the current inflation levels being recorded.
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Source: www.myjoyonline.com