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The median forecast for Brazil's consumer price inflation in the next 12 months decreased for the third week in a row, to 3.94% from 3.97% last week, according to economists surveyed by the South American country's central bank.
For 2018, the economists decreased the median inflation estimate for the eighth consecutive week, to 3.57%, from 3.63% in the previous survey. For 2019, the forecast dropped to 4.10%, after two weeks at 4.20%.
The annual inflation rate in Brazil decelerated to 2.84% in February, from 2.86% in January, remaining below the bottom of the central bank's target for 2017, which ranged from 3% to 6%.
