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BRAZIL: Economists Cut 2017 Inflation Forecast To 3.29%

The median forecast for Brazil’s consumer price inflation in 2017 was cut for the seventh week in a row, to 3.29%, from 3.38% a week before, according to economists surveyed by the central bank.

For 2018, the median forecast decreased for the sixth consecutive week, from 4.24% to 4.20%. For the next 12 months, estimates for the annual inflation fell to 4.37%, from 4.47%, after two upward revisions.

Brazil annual inflation is currently below the central bank’s target of 4.5%. The most recent data shows that in June the annual inflation slowed to 3.00%, from 3.60% in May. It was the lowest 12-month inflation rate since April 2007.

The material has been provided by InstaForex Company – www.instaforex.com