The Ghana Statistical Service (GSS) has received commendation from the Bank of Ghana and key economic stakeholders for improving transparency and strengthening the quality of economic data used in policy formulation.
The praise came during the release of the 2025 Annual Inflation Report in Accra on Thursday, where officials highlighted the growing importance of reliable, disaggregated statistics in guiding monetary and fiscal decisions.
First Deputy Governor of the Bank of Ghana, Dr. Zakari Mumuni, said the introduction of the annual inflation report marks a significant step forward in deepening macroeconomic analysis and improving the evidence base for policymaking.
He noted that accurate and timely data remains central to understanding inflation dynamics, especially in distinguishing between temporary price shocks and more persistent structural pressures in the economy.
The GSS was credited with enhancing statistical reporting standards and expanding the analytical depth of inflation measurement, an effort policymakers say is critical amid ongoing domestic and external price pressures.
Officials said improved data quality has become increasingly important as Ghana navigates exchange rate volatility, food price fluctuations, and global commodity shocks that continue to influence domestic inflation outcomes.
Dr. Mumuni added that stronger data systems also support transparency and help anchor public expectations, which are key to maintaining credibility in monetary policy.
He reiterated that collaboration between the Bank of Ghana and the statistical authority will remain central to ensuring that policy decisions are grounded in robust and credible economic evidence.
The Annual Inflation Report is expected to serve as a key reference document for policymakers, analysts, and market participants in assessing inflation trends and broader macroeconomic conditions.
