The Focus report is released weekly by the Central Bank and indicates the expectations of financial institutions for the main economic indicators in the country.| Photo: Marcello Casal Jr/Agência Brasil

The financial market increased for the sixth consecutive time the forecast for the Extended National Consumer Price Index (IPCA), considered the official indicator of inflation in the country. The Focus report released by the Central Bank this Monday (23) points to an increase in the index from 5.39% to 5.48% this year.

The bulletin is released weekly and indicates the expectation of financial institutions for the main economic indicators in the country. For 2024, the inflation projection also rose from 3.70% to 3.84%.

The report also indicates a slight increase in the forecast for the Bruno Domestic Product (GDP) in Brazil this year, from 0.77% to 0.79%. Next year the GDP forecast remained at 1.50%. For the Selic rate, the estimate is that the basic interest rate will end the year at 12.5%. By the end of 2024, the estimate is that the Selic rate will drop to 9.5% per annum. The expectation for the dollar exchange rate remained at R$5.28 for the end of 2023. For the end of 2024, the forecast is that the American currency will be quoted at R$5.30.