Business News of Thursday, 20 February 2020Source: www.ghanaweb.comNew law to standardize measurements, determine inflation figures before cabinet – GSSProf. Samuel Kobina Annim, Government StatisticianThe Ghana Statistical Service (GSS), has disclosed that a new law to standardize weights, measurements and determine accuracy in inflation figures is currently before cabinet. According to the Government Statistician, Prof. Samuel Annim, the law which is awaiting approval for passage will help in determining accurately the rate of inflation and should also make inflation figures reflect market conditions. Prof. Annim noted that the current law, rather makes it difficult to determine the relative increase in prices of goods especially when there is the bumper harvest which makes the GSS rely on the discretion of sellers to determine inflation figures. Our sellers are not privy as to how variations in these weights inform the pricing,” Prof. Samuel Annim told Citi Business News. Professor Annim says he believes that a common weighing mechanism should benefit farmers, sellers as well as consumers.
Source: GhanaWeb February 20, 2020 10:30 UTC