Focus Bulletin, from the Central Bank, raises inflation forecasts to 7.27% this year. Photo: Marcello Casal Jr / Agência Brasil
The financial market has again raised the projection of the general consumer price index (IPCA), which measures the country’s official inflation, to 7.27% this year. The data is in the latest Focus Bulletin, from the Central Bank, published this Monday (30). This is the 21st consecutive increase in the forecast. For 2022, the inflation estimate is 3.95%. For 2023 and 2024, the forecasts are respectively 3.25% and 3%. The inflation target, set by the National Monetary Council, is 3.75% for 2021, with a tolerance interval of 1.5 percentage points up or down. In July, inflation rose 0.96%, the month’s highest result since 2002, when the increase was 1.19%. With the result, the IPCA is building up 4.76%, in the year, and 8.99%, in the last 12 months.