BRAZIL: Economists Raise 2017 Inflation Forecast To 3.50%, From 3.45%

(RTTNews) - The median forecast for Brazil's consumer price inflation in 2017 was raised for the fourth week in a row, to 3.50%, from 3.45% last week, according to economists surveyed by the central bank.

For 2018, the median forecast remained at 4.20% for the fourth consecutive week. For the next 12 months, estimates for the annual inflation fell after three consecutive weekly increases, to 4.50%, from 4.53% 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.