BRAZIL: Economists Raise 12-month Inflation Forecast To 3.93%

(RTTNews) - The median forecast for Brazil's consumer price inflation in the next 12 months rose for the second consecutive week, to 3.93% from 3.90% last week, according to economists surveyed by the South American country's central bank.

For 2017, the economists increased the median inflation estimate to 2.79% from 2.78% last week, while for 2018 the forecast decreased to 3.95% from 3.96%.

Brazil annual inflation in 2017 will probably be lower than the bottom of the central bank's target, which ranges from 3% to 6% per year. The most recent data showed that in November the annual inflation decreased to 2.50%, from 2.70% in October.