Producer prices in Georgia jumped 5.4 percent year-on-year in March of 2019, following a 3.3 percent rise in the previous month. It was the highest producer inflation since October of 2018, as cost advanced faster for manufacturing (6.1 percent from 4 percent in February) and electricity, gas, steam & air conditioning supply (1.4 percent from 1.1 percent). In addition, prices rebounded sharply for mining & quarrying (5.3 percent from -0.7 percent). On a monthly basis, producer prices went up 1.1 percent, after showing no growth in February. Producer Prices Change in Georgia averaged 5.87 percent from 2002 until 2019, 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 6.10 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 6.60 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.