Inflation to reflect changes in household expenditure patterns

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• Osei 12 years ago

  COMMUNICATION IS JUST A MINUTE PART OF GHANA'S ECONOMY. WHAT ABOUT THE PRICES IN THE OTHER SECTORS OF THE ECONOMY?

  COMMUNICATION IS JUST A MINUTE PART OF GHANA'S ECONOMY. WHAT ABOUT THE PRICES IN THE OTHER SECTORS OF THE ECONOMY?

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• Sankofa 12 years ago

  The rebasing of the CPI will make the index more closely reflect patterns of household expenditure.
  
  Like the Census, the CPI is generally rebased every 10 years as household expenditure patterns are assumed to have changed ...
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  The rebasing of the CPI will make the index more closely reflect patterns of household expenditure.
  
  Like the Census, the CPI is generally rebased every 10 years as household expenditure patterns are assumed to have changed sufficiently over the period to warrant reweighting. The weights are derived from a household expenditure sample survey, in our case the Ghana Living Standards Survey.
  
  Chaining is used to link the old index series to the new series.
  
  GSS must continue to update and improve the quality of statistics, as this is crucial to informed decision-making on the economy.

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