BRAZIL: Economists Cut 12-month Inflation Forecast To 3.86%

(RTTNews) - The median forecast for Brazil's consumer price inflation in the next 12 months decreased to 3.86% from 3.91% last week and 3.98% four weeks ago, according to economists surveyed by the South American country's central bank.

For 2017, the median inflation estimate was cut to 2.78%, the fifth consecutive decline, from 2.83% in the previous week, while for 2018 the forecast was cut to 3.96% from 4.00% last week.

Brazil's annual inflation is currently 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.