Inflation in Brazil to close the year at 7.12%Staff writer ▼ | June 7, 2016
The weekly inflation forecast by Brazilian financial institutions for this year, gauged by the extended national consumer price index (Indice Nacional de Preços ao Consumidor Amplo - IPCA) has changed from 7.06% to 7.12%.
Brazil The benchmark interest rate Selic is seen at 12.88%
The benchmark interest rate Selic is seen at 12.88% per annum at the end of 2016 and 11.25% at the end of 2017. The Selic is currently at 14.25%.
The Gross Domestic Product (GDP) shrinkage forecast has changed slightly from 3.81% to 3.71%. The shrinkage estimate for 2017 widened from 0.55% to 0.85%. ■