Market raises forecasts for 2021 inflation

argentina inflation
Photo: Alla Din/Shutterstock

Market analysts in Brazil increased their 2021 inflation predictions from 6.11 percent to 6.31 percent, according to this week’s Focus Report survey, carried out by the Central Bank. 

This is now the 15th consecutive week that experts have revised forecasts upward. Predictions for 2022 remain stable at 3.75 percent.

Besides inflation, analysts made the slightest increase to GDP projections for this year, up to 5.27 percent. Likewise, they bumped up predictions for Brazil’s benchmark interest rate Selic, from 6.63 percent to 6.75 percent.