Brasília – The inflation rate forecast for this year made by financial institutions, as measured by the Extended National Consumer Price Index (IPCA), went up for the 14th consecutive week, going from 10.61% to 10.70%. For 2016, the forecast for the IPCA went up for the third consecutive week, going from 6.80% to 6.87%. The estimations were released this Monday (21th) and are part of the Central Bank’s Focus Bulletin, a weekly report based on surveys with financial institutions.
The high inflation rate is coupled with the shrinking of the economy both this year and the next. The estimation for the decline of the Gross Domestic Product (GDP), the sum of all goods and services produced by the country, went from 3.62% to 3.70% for this year, the fifth consecutive revision. For 2016, the estimation pointing a decline was revised up for the 11th consecutive time, going from 2.67% to 2.80%. The estimations for the price of the dollar remained at BRL 3.90 at the end of this year and at BRL 4.20 at the end of 2016.
*Translated by Sérgio Kakitani
