Italian economy to grow 0.4% in 2023, average inflation at 7.3% - central bank

MILAN - The Italian economy is expected to grow by 0.4% next year, a sharp slowdown compared with the 3.8% seen for 2022, the central bank said on Friday.

Yet the view for 2023 is slightly better compared with the 0.3% seen in October, while expectations for 2024 growth stand at 1.2% against the previous estimate of 1.4%.

The weak growth scenario is set against a backdrop of stubborn inflation, as the cost of living is seen by the central bank at an average 7.3% in 2023 (compared to 8.8% forecast for 2022), before slowing to 2.6% in 2024 and 1.9% in 2025.