UPDATE 1-Brazil economists lift inflation, GDP forecasts

* 2010 inflation forecast raised for 16th straight week

* Brazil GDP growth seen at 6.26 pct vs 6.06 pct last week

* Selic rate forecast for 2010 kept unchanged at 11.75 pct
(Adds GDP forecasts, interest rates)

SAO PAULO, May 10 (BestGrowthStock) – Economists in a weekly
central bank survey raised their forecasts for the benchmark
inflation index and growth in Brazil in 2010, underscoring
expectations of a rebound in Latin America’s largest economy
that is stoking consumer prices.

Economists forecast the IPCA inflation index at 5.50
percent in 2010, compared with the 5.42 percent forecast a week
earlier, increasing inflation estimates for a 16th straight
week, a central bank survey showed on Monday.

Brazil’s gross domestic product is seen expanding 6.26
percent this year, up for an eighth straight week and compared
with a 6.06 percent forecast previously. Estimates for the
benchmark Selic interest rate were kept unchanged at 11.75
percent.

For 2011, inflation estimates were kept at 4.8 percent for
a fourth straight week. The central bank has a 4.5 percent
inflation target for 2010 and 2011, plus or minus 2 percentage
points.
Investment Advice

(Reporting by Elzio Barreto, Editing by Chizu Nomiyama)

UPDATE 1-Brazil economists lift inflation, GDP forecasts