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    Dalex Finance supports FCA’s 1 million face masks project

    Yellow maize ears harvested at CIMMYT's Tlaltizapán research station, Mexico.

Photo credit: CIMMYT.

    Expected maize imports will help mitigate shortage in Ghana – Poultry Farmers Association

    UK-Ghana Chamber of Commerce urges British Airways to reconsider route change

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    GRA pegs 2021 revenue target at GHS 60 billion

    GRA exceeds 2020 revenue target by GHS2.6 billion

    ECOWAS needs payment, settlement system as ECO adoption delays – Akufo-Addo

    Provide small cocoa processors with sustained financial support – Banks urged [Video]

    Kawa Moka strives to transform Ghana’s coffee industry

    AfCFTA: Address challenges of local businesses – GNCCI to government

    Sensitize employees, customers on COVID-19 safety protocols – AGI urges SMEs

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    Blend tech with fashion with the new Huawei Watch Fit

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    Cost of political adverts on social media to rise by 200% in next election – Maximus

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    World Bank plans to invest over US$5 billion in drylands in Africa

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GSS introduces Technical Methodology manual to aid calculation of CPI

by Ellen Dapaah
October 16, 2020
in General, News
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The Ghana Statistical Service (GSS) has made publicly available, the CPI Technical Methodology Manual to help citizens under how the Consumer Price Index (CPI) is computed.

The technical manual, according to the Government Statistician, Prof Samuel Kobina Annim, “is a reference tool for anyone who wishes to understand how CPI and associated inflation statistics are calculated”.

It covers the concepts underpinning the index, the methodology used, price data collection and validation, calculation of weights and publication and usage of the different indices.

The 2020 version is available on the GSS website.

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Calculating CPI

The Combined Consumer Price Index measures the change over time in the general price level of goods and services that households acquire for the purpose of consumption.

It measures changes in the price of a fixed basket of goods and services purchased by households.

The assumption is that the basket is purchased each month, hence as price changes each month, the total price of the basket will also change.

The rate of inflation is the relative change in CPI between periods.

Current CPI and inflation rate

CPI for September 2020 is 119.8 relative to 120.0 in August 2020.

The year-on-year inflation rate as measured by the CPI was 10.4 percent in September 2020, which is 0.1 percentage points lower than August 2020.

This rate of inflation for September 2020 is the percentage change in the CPI over the twelve-month period, from September 2019 to September 2020.

The monthly change rate for September 2020 is -0.2 percent.

 

 

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