ACCRA, Nov 27 (Reuters) - Ghana's annual producer price inflation jumped to 11.6 percent in October from a revised 5.8 percent in September, due mainly to an increase in utility prices, the West African nation's statistics office said on Wednesday.
Producer price inflation can give an indication of consumer price inflation but it has been volatile this year and was last near this level in January.
'The utility sub-sector recorded the highest year-on-year producer price inflation of 40.5 percent, followed by the manufacturing subsector with 13.4,' Philomena Nyarko of the government statistical service told a news conference.
The government cut utility subsidies this month and fuel subsidies earlier in the year as part of a deficit reduction plan.
Annual consumer price inflation rose sharply to a fresh three-year high of 13.1 percent in October and Ghana's Central Bank has said CPI will likely exceed the 11 percent upper limit of its 2013 target range.
Ghana produces gold, cocoa and oil is seen as one of Africa's brightest economic prospects. But economists have raised concerns in recent months over its stubbornly high inflation and government deficit, and rising debt levels.
(Reporting by Matthew Mpoke Bigg; Writing by David Lewis; Editing by Daniel Flynn and Emma Farge) Keywords: GHANA ECONOMY/PPI
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