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By Lise Alves, Senior Contributing Reporter

SÃO PAULO, BRAZIL – Financial institutions have lowered for the fifth consecutive week their forecast for inflation in 2016, according to the weekly Central Bank Focus Survey. The survey, however, also showed the expectation of further decrease in the country’s annual GDP growth.

According to the Focus Survey, which gathers forecasts from one hundred financial institutions in Brazil, inflation forecasts measured by the IPCA, went from 7.28 percent the work week ending on April 1st to 7.14 percent at the end of last week, April 8th.

Although there was a decline . . .

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