Producer prices in Georgia increased 5.9 percent year-on-year in October 2018, accelerating from a 5.5 percent rise in the previous month. Cost advanced faster for mining & quarrying (1.6 percent from 1.3 percent in September) and manufactured goods (5.0 percent from 4.5 percent), of which basic metals & fabricated metal products (8.0 percent from 5.5 percent); food, beverages & tobacco (4.7 percent from 4.1 percent); chemicals & chemicals products (6.7 percent from 6.2 percent); machinery & equipment (1.2 percent from 0.6 percent) and leather & leather products (15.4 percent from -0.4 percent). Contrarily, prices slowed for electrical energy, gas, steam & hot water (13.1 percent from 14.1 percent). On a monthly basis, producer prices went up 1.5 percent, from a 0.9 percent gain in September. Producer Prices Change in Georgia averaged 5.93 percent from 2002 until 2018, reaching an all time high of 19 percent in October of 2007 and a record low of -9.76 percent in April of 2009.
Producer Prices Change in Georgia is expected to be 6.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Producer Prices Change in Georgia to stand at 6.50 in 12 months time. In the long-term, the Georgia Producer Prices Change is projected to trend around 8.20 percent in 2020, according to our econometric models.