Headquarters of the Central Bank in Brasilia | Photo: Marcello Casal Jr / Agência Brasil
The financial market raised its inflation forecast to 7.05% this year, the 19th consecutive increase in the projection, according to the Focus Bulletin published by the Central Bank on Monday (16). For 2022, the inflation estimate is 3.90%. For 2023 and 2024, the forecasts are respectively 3.25% and 3%. The target set by the National Monetary Council is 3.75% for this year, 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. The projection for gross domestic product (GDP) growth has been reduced from 5.30% to 5.28% this year. . For 2022, the expected GDP growth is 2.04%. In 2023 and 2024, the financial market forecasts GDP growth of 2.5%.