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Financial News: BRAZIL: Economists Cut 2017 Inflation Forecast To 2.97%,

BRAZIL: Economists Cut 2017 Inflation Forecast To 2.97%, From 3.08%

09/25/2017 - 16:41:00 (RTTNews)

(RTTNews) - The median forecast for Brazil's consumer price inflation in 2017 was cut for the fifth consecutive week, to 2.97%, from 3.08% last week, according to economists surveyed by the central bank. For 2018, the median forecast was cut for the fourth week in a row, to 4.08%, from 4.12% last week.

For the next 12 months, meanwhile, estimates for the annual inflation fell for the seventh week in a row, to 3.94%, from 4.07% last week.

Brazil annual inflation is currently below the central bank's target of 4.5%. The most recent data shows that in August the annual inflation slowed to 2.46%, from 2.71% in July, remaining as the lowest inflation rate for the 12-month period since February 1999.

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