2017.09.2516:41:00UTC+00BRAZIL: Economists Cut 2017 Inflation Forecast To 2.97%, From 3.08%

The median forecast for Brazil's consumer price inflation in 2017 was cut for the fifth consecutive week, to 2.97%, from 3.08% last week, according to economists surveyed by the central bank. For 2018, the median forecast was cut for the fourth week in a row, to 4.08%, from 4.12% last week.

For the next 12 months, meanwhile, estimates for the annual inflation fell for the seventh week in a row, to 3.94%, from 4.07% last week.

Brazil annual inflation is currently below the central bank's target of 4.5%. The most recent data shows that in August the annual inflation slowed to 2.46%, from 2.71% in July, remaining as the lowest inflation rate for the 12-month period since February 1999.