January 10, 2018 / 11:13 AM / 5 months ago

Brazil 2017 inflation tops forecasts but lags target range

SAO PAULO, Jan 10 (Reuters) - Brazil’s 2017 inflation rate topped analyst expectations but undershot the official target range for the first time, data from state statistics agency IBGE showed on Wednesday.

The benchmark IPCA index rose 2.95 percent last year, the lowest annual rate since 1998 and below the government’s target of 4.5 percent plus or minus 1.5 percentage points. Economists polled by Reuters expected a 2.80 percent reading. (Reporting by Bruno Federowski; Editing by Robin Pomeroy)

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