Inflation projection for Brazil rises for fifth consecutive week – Central Bank survey

Inflation in Brazil, led by a spike in food prices, has proved to be less “transitory” than the central bank had thought. It ended last year at 4.5%, above the median target of 4.00%.

RIO DE JANEIRO, BRAZIL - Brazil's central bank weekly FOCUS survey of some 100 economists and financial institutions indicated that the outlook for inflation in the country rose for the fifth consecutive week, and is getting closer to the bank's target for the year.

The average forecast for IPCA consumer price inflation at the end of the year (2021) rose to 3.60% from 3.50% the week before, according to the latest weekly ‘FOCUS’ survey.

That’s the highest since last March, and close to the central bank’s end-year goal of 3.75%, with a margin . . .

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