BRAZIL: Economists Raise 2017 Inflation Forecast To 3.51%, From 3.50%

(RTTNews) - The median forecast for Brazil's consumer price inflation in 2017 was raised for the fifth week in a row, to 3.51%, from 3.50% last week, according to economists surveyed by the central bank. For 2018, the median forecast remained at 4.20% for the fifth consecutive week.

For the next 12 months, meanwhile, estimates for the annual inflation fell for the second week, to 4.43%, from 4.50% last week.

Brazil annual inflation is currently below the central bank's target of 4.5%. The most recent data shows that in July the annual inflation slowed to 2.71%, from 3.00% in June. It was the lowest inflation rate for the 12-month period since February 1999.