The projection for inflation in Brazil this year was below 7% amid the prospect of a more intense fall for administered prices, according to the Focus survey released by the Central Bank this Monday (22).
The survey, which captures the market’s perception of economic indicators, pointed out that the expectation for the IPCA high in 2022 is now 6.82%, from 7.02% in the previous week. The outlook for regulated prices dropped by 1.80%, against a 1.12% drop calculated earlier.
The adjustments come in the wake of government measures to control inflation, such as the law that sets a cap on ICMS rates on the fuel, gas, energy, communications and public transport sectors, in addition to recent reductions in fuel prices. announced by Petrobras at the refineries.
However, the result is still well above the target ceiling, which is 3.5% for 2022 with a tolerance margin of 1.5 percentage points or so.
For 2023, the inflation account had a slight drop of 0.05 percentage point and is now 5.33%, also above the target, whose center in this case is 3.25%, with the same margin.
In relation to GDP (Gross Domestic Product), the growth estimate for this year was adjusted from 0.02 point upwards, to 2.02%, but for next year the scenario worsened by 0.02 point, to 0 .39%.
The weekly survey of a hundred economists also showed that the benchmark interest rate should end 2022 at the current level of 13.75%, falling to 11.00% at the end of 2023, unchanged from the previous week.
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