Ghana Statistical Service must clarify inflation calculations – Boadi flags inconsistencies

Professor Isaac Boadi has raised concerns about possible inconsistencies in Ghana’s latest inflation report, calling on the Ghana Statistical Service (GSS) to clarify its calculations.

The economist questioned how the Service arrived at an overall inflation rate of 3.8% when both food and non-food inflation were reported at 3.9%.

“When you are calculating a weighted average, the result should fall between the numbers you are averaging,” he said on the Asaase Breakfast Show.

“If food inflation is 3.9 and non-food is 3.9, how do you get 3.8? The math must be explained.”

Boadi said while the discrepancy may appear small, even minor computational errors can undermine confidence in official statistics that guide national policy.

“These figures inform interest rates, fiscal policy and investment decisions. We cannot afford mistakes,” he cautioned.

He stressed that his comments were not an attack on the Statistical Service but a professional critique aimed at improving accuracy.

“We are not criticising. We are critiquing. But they must be careful about the data they put out,” he said.

Boadi disclosed that the Institute of Economic Reform and Policy Performance would publish a technical write-up highlighting the concerns and urging further review.

“If there are issues, they must be corrected quickly so that the public can trust the numbers,” he added.