Brazil Analysts Boost 2015 CPI, Cut GDP for 12th Straight Week

Brazil economists lowered their 2015 growth forecasts and raised their inflation expectations for the 12th straight week, as President Dilma Rousseff’s government tightens fiscal policy to slice the budget deficit.

Analysts raised their 2015 inflation estimate to 8.12 percent from 7.93 the prior week, according to the March 20 central bank survey of about 100 analysts published Monday. The last time inflation ended the year above 8 percent was 2003. The economists also lowered their forecast for economic growth to a decline of 0.83 percent from negative 0.78 previously.