Bank analysts have revised their 2014 inflation forecast for Brazil upward from 6.11 percent to 6.28 percent, the Central Bank said Monday.

The private sector analysts maintained their economic growth estimate unchanged at 1.7 percent.

The inflation and gross domestic product (GDP) estimates were included in the Boletin Focus, a weekly Central Bank survey of analysts from about 100 private financial institutions on the state of the national economy.

The government, for its part, expects Brazil's GDP to expand by 2.5 percent this year.

The government has an inflation target of 4.5 percent for this year, with a 2 percent band.

The inflation rate was 1.24 percent in the first two months of this year, with the year-on-year inflation rate running at 5.68 percent, government figures show.

Analysts expect Brazil's benchmark interest rate, which is currently at 10.75 percent, to rise to 11.25 percent as the central bank takes measures to fight inflation. EFE