BRAZIL: Economists Raise 2017 Inflation Forecast From 3.40% To 3.45%

(RTTNews) - The median forecast for Brazil's consumer price inflation in 2017 increased for the third week in a row, to 3.45%, from 3.40% last week, according to economists surveyed by the central bank. For 2018, the median forecast remained at 4.20% for the third consecutive week.

For the next 12 months, estimates for the annual inflation were also raised for the third week in a row, to 4.53%, from 4.52% last week.

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 inflation rate for the 12-month period since April 2007.

On Wednesday, the Brazilian statistics office will release inflation data for July, which should show a higher price increase because of a jump in the electricity tariff and after the government's decision to double a tax on fuels.