Georgia's producer prices rose 4.1 percent year-on-year in May 2019, easing from a 5.7 percent increase in the previous month. Cost of manufacturing slowed (6.3 percent from 6.7 percent in April), namely food products, beverages and tobacco (7 percent from 7.8 percent), basic metals and fabricated metal products (2 percent from 4.9 percent), chemicals (3.8 percent from 5.5 percent) and rubber & plastic (5.5 percent from 7.8 percent). Additionally, prices advanced less for mining & quarrying (3.3 percent from 4.2 percent) and cost electrical energy, gas, steam and hot water prices dropped (-10.2 percent from 0.9 percent). On a monthly basis, producer prices declined 1 percent, after a 0.2 percent gain in the prior month. Producer Prices Change in Georgia averaged 5.86 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 4.20 percent in 2020, according to our econometric models.