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By Kristen Nozell, Contributing Reporter

RIO DE JANEIRO, BRAZIL – For the first time since September 2010, Brazil's Central Bank has lowered its inflation forecast for the year. As revealed in the third quarter report released Monday, September 30th by the country's monetary authority, the Índice de Preços ao Consumidor Amplo (IPCA, or Consumer Price Index) inflation is now forecast to close this year at 5.8 percent.

The new forecast represents a decline from last quarter’s prediction of six percent, but the figure is still significantly higher than the government's Subscribe to our Premium Membership Plan. Already Subscribed?