Stênio Ribeiro
Reporter - Agência Brasil

Brasília - Prices are headier than what market experts expected for the month of March, according to the poll conducted by the Central Bank last Friday (24) on the major market indices.

The private sector economists interviewed on Friday believe that this month's increase in the Broad Consumer Price Index (IPCA), which serves as a parameter for the government, will be higher than the 0.30% projected at the beginning of the month. The analysts had already raised their estimate last week to 0.40%. Now they are estimating an increase of 0.46%.

Consequently, their prediction for this year's overall inflation increased from 4.55% to 4.57%. reversing a previous small but gradual trend in the other direction, involving a lowering of inflationary expectations for the past two months. This implies a greater distance from the annual target of 4.50% set by the National Monetary Council (CMN).

The Central Bank survey suggests that the growth in the IPCA over the next 12 months should decline from 4.37% to 4.32%.

Translation: David Silberstein