Brazil Reduces 2018 Minimum Wage Forecast to R$969

The reduction was due to the decline in inflation projection by the Broad Consumer Price Index (IPCA) for 2017.

By Jay Forte, Contributing Reporter

RIO DE JANEIRO, BRAZIL - The Brazilian government reduced the forecast for minimum wage in the coming year after reviewing the economic projections for 2018. The amount of R$979 per month (US$309) contained in the Law of Budgetary Guidelines (LDO) will decrease to R$969 per month (US$306) during the preparation of the new budget.

The reduction was due to the decline in inflation projection by the Broad Consumer Price Index (IPCA) for 2017. By the end of July, the government had revised the official inflation estimate from 4.3 percent to 3 . . .

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