Brasília, June 7, 2004 (Agência Brasil) - For the fourth week in a row, the financial market raised its forecast for consumer price inflation this year. According to a survey released today by the Central Bank, nearly a hundred financial analysts and institutions queried last Friday (4) foresee a Broad Consumer Price Index (IPCA) of 6.59% in 2004, as against last week's forecast of 6.50%. Predictions are gradually growing farther and farther away from the core of the government's official target of 5.5% for this year.

The market also increased its projection for next year's inflation to 5.37%, as against the government's official target of 4.5%. Regarding May's IPCA, which should be released this week, the market maintained its prediction of 0.48%. The estimate for June is 0.52%.

Reporter: Stênio Ribeiro
Translator: David Silberstein