Inflation estimate from banks up

Brazilian financial institutions expect prices to have gone up 3.33% by the end of this year in Brazil, up from last week’s 3.31% forecast.

Agência Brasil

Brasília – Forecasts from Brazilian banks regarding the National Extended Consumer Price Index (IPCA) – which tracks inflation in the country – have gone up for the second straight week, this time to 3.33% from 3.31%. Forecasts for upcoming years are unchanged, at 3.60% in 2020, 3.75% in 2021 and 3.50% in 2022.

The figures are from a weekly poll made public each Monday by the Brazilian Central Bank.

Gross Domestic Product (GDP) is seen going up 0.92% this year, the same as in last week’s poll. The 2020 GDP forecast moved from 2.08% to 2.17%. In 2021 and 2022, GDP is expected to increase by 2.50%. The Central Bank poll’s respondents expect the US dollar to end 2019 and 2020 selling for BRL 4.

Translated by Gabriel Pomerancblum

Agência Brasil

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