Annual producer price inflation in Ghana rose to a more-than-one-year high of 25.22 percent in April from a revised March figure of 23.46 percent, the statistics office said last week .
The fifth consecutive monthly rise may herald an increase in the pace of consumer price inflation for May, after two months of declines that surprised most analysts and paved the way for an interest rate cut.
"The producer price index increased year-on-year by 25.22 percent in April 2011, higher than the growth recorded in March 2011," government statistician Grace Bediako told a press conference in Accra.
The 25.22 percent PPI figure was the highest since January 2010, according to the Ghana Statistical Service web site.
The main driver year-on-year was in the utility sector, which recorded a 71.98 percent increase, while mining and quarrying climbed 38.29 percent, Bediako said.
The March producer price inflation figure was revised to 23.46 percent from 23.39 percent, she added.
The Bank of Ghana cut its prime policy rate by 50 points to 13 percent it announced on May 13, after two consecutive months of consumer price inflation, declines that surprised analysts.
Month-on-month producer prices rose by 1.38 percent during the period, after a 0.97 percent increase in March.
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