O Itaú Unibanco raised its expectation for this year’s GDP (Gross Domestic Product) to a high of 2.2%, compared to 2% in the previous projection. The new figure comes from revising the economy’s growth in the second quarter from 0.8% to 1%.
The institution also adjusted its forecast for official inflation, measured by the IPCA, to 7% in 2022, against 7.2% in the last estimate.
The revisions reflect better-than-expected June activity and inflation data. In terms of prices, the calculations reflect the cut in fuel taxes and the effect on the decrease in the values of Petrobras fuel passed on to distributors.
The inflation forecast for 2023 also improved, from 5.6% to 5.3% – closer to the ceiling of the target established by the Central Bank (BC) of 5%.
In relation to GDP, the bank highlighted that strong monthly data pointed to an advance in the economy, which justifies the upward revision in 2022. However, for next year Itaú maintained its forecast of modest growth, of 0. two%.
Source: CNN Brasil
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