RIO DE JANEIRO, April 22 (Reuters) - Brazil’s annual inflation rate is forecast to finish 2014 above the ceiling of a government target, a central bank survey of about 100 economists showed on Tuesday, potentially complicating President Dilma Rousseff’s re-election bid.
The central bank’s weekly survey showed economists estimate consumer inflation measured by the benchmark IPCA index to rise 6.51 percent in 2014, compared with 6.47 percent seen in the previous week.
Brazil targets an IPCA of 4.5 percent, with a tolerance margin of 2 percentage points. Inflation has remained stubbornly high in Brazil as food prices rose sharply despite a year-long monetary tightening campaign by the central bank.
Concern about rising food prices have hurt Rousseff’s approval ratings according to recent opinion polls.
The median estimate for gross domestic product growth in 2014 was revised down to 1.63 percent versus 1.65 percent in the previous week, the survey showed.
(pct) 2014 2015
previous new previous new
forecast Consumer 6.47 6.51 6.00 6.00 inflation Exchange rate 2.45 2.45 2.53 2.51 (reais per U.S dollar, end-period) Interest rate 11.25 11.25 12.00 12.00 (end-period) GDP growth 1.65 1.63 2.00 2.00 Industrial output 0.70 1.40 2.95 2.95
Reporting by Walter Brandimarte Editing by Walker Simon