Market estimates for inflation have now risen above government target

01/07/2002 - 16h16

Brasília, 2 (Agência Brasil - ABr) - According to the latest Central Bank weekly survey of 70 financial institutes and consultancy agencies, average market estimates for 2002 inflation as measured by the Broad Consumer Price Index (IPCA) rose from 5.50% to 5.53%, putting them above the government target ceiling of 5.5%. In fact, the government target is 3.5%, give or take 2 percentage points. Market estimates for 2003 inflation remains stable at 4%, equal to the government target. (AB)