Producer prices in Croatia went up 10.7 percent year-on-year in July of 2019, following a 6.4 percent increase in the previous month. It was the highest producer inflation since November 2017, as manufacturing prices advanced faster (12 percent vs 8.8 percent in June); in particular food products, beverages and tobacco (12.1percent vs 9.6 percent), basic metals and fabricated metal products (16.1 percent vs 8.5 percent) and pulp, paper and paper products (35.5 percent vs 27.3 percent). In addition, mining & quarrying cost rose further (19.3 percent vs 5.5 percent) while electrical energy, gas, steam and hot water prices declined at a softer pace (-1.4 percent vs -8.6 percent). On a monthly basis, producer prices went up 3.2 percent, following a 1.2 percent rise in the prior month. Producer Prices Change in Georgia averaged 5.89 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 6.50 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 5.80 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.