Inflation continues to rise and GDP forecast advances to 1.0%

The inflation projection for 2023 rose again for the fifth week in a row, from 6.04% to 6.05%, according to data from the Focus Report, released by the Central Bank, this Tuesday (2). The forecast for the 2024 IPCA was maintained at 4.18%, while those for 2025 and 2026 remained at 4.0%.

Specifically for managed prices, the IPCA projection for 2023 maintained the upward trend seen for 22 weeks and increased from 10.71% to 10.73%. A month ago, the projection was at 9.65%. The estimate for 2024 was maintained at 4.50% and for 2025 and 2026, continued at 4.0%.

The estimate for GDP in 2023 rose from 0.96% to 1.0% in the week. The projection for 2024 was maintained at +1.41% and that for 2026 remained at 1.80%, while the estimate for 2025 rose from 1.70% to 1.80%

Regarding the economy’s basic interest rate, the Selic, the financial market maintained the estimate for 2023 at 12.5% ​​per year. For 2024, the projection remains at 10% per year.

At the last meeting of the Monetary Policy Committee (Copom), the Selic was maintained at 13.75% per annum. The body will meet again this Tuesday and Wednesday (4/5), to define whether interest rates rise, fall or remain at the current level.