Market raises inflation forecast for 2023 for the 7th week in a row and cuts for foreign exchange

Financial market agents continue to foresee a rise in inflation indicator for 2023.

Second or Focus Bulletin disclosed in this second-fair (30) by the Central Bank, or IPCA should close this year at 5.74%. In the previous week, the forecast was that accumulated inflation would not be 5.48% for the year. This is the seventh consecutive week that the report has outlined a review for the IPCA summit by 2023.

On the other hand, the market projects a lower exchange rate than forecast the previous week. Second to inquiry, or exchange must date or year with an average price of R$ 5.25. This is the first reduction in the tax allowance, which remains stable for two weeks in a row at R$ 5.28.

See main forecasts:

• IPCA increase of 5.74% in 2023, compared to 5.48% in the previous week
• IPCA increase of 3.90% in 2024, compared to 3.84% in the previous week
• Selic at 12.50% by the end of 2023, compared to 12.50% the previous week
• Selic at 9.50% at the end of 2024, compared to 9.50% the previous week
• GDP growth in 2023 of 0.80%, compared to 0.79% the previous week
• GDP growth in 2024 of 1.50%, compared to 1.50% the previous week
• Exchange rate of R$ 5.25 at the end of 2023, against R$ 5.28 in the previous week
• Exchange rate of R$ 5.30 at the end of 2024, against R$ 5.30 in the previous week
• IPCA at 5.63% in the next 12 months, compared to 5.42% a week before