RIO DE JANEIRO, BRAZIL – Market expectations for consumer inflation this year already exceed 8.5%, according to the Focus Bulletin released by the Central Bank on Monday.
The weekly survey pointed out that the expectation for the IPCA high is now 8.51%, against 8.45% in the previous week, in the 26th consecutive elevation of the projection.
The result, if confirmed, shoots well above the inflation target for this year, of 3.75%, with a tolerance margin of 1.5 percentage points more or less.
The projection for 2022 has also increased and is at 4.14%, from 4.12% before, against a central target of 3.5%, with a margin of 1.5 percentage points.
The growth estimates for the Gross Domestic Product (GDP) remained at 5.04% and 1.57%, respectively, for 2021 and 2022.
The estimates for the benchmark interest rate SELIC also remained unchanged, at 8.25% at the end of this year and 8.50% at the end of 2022.