Italy’s central bank forecasts 7.3% inflation in 2023 | Forexlive

The market was taken aback by the hawkish ECB yesterday but a forecast like this underscores how far Europe is from 2% inflation.

Italy’s central bank:

• Sees 8.8% inflation this year
• Sees 7.3% inflation in 2023
• Sees 2.6% inflation in 2024

GDP:

• Sees 3.8% growth this year vs 3.3% prior
• Sees 0.4% growth in 2023
• Sees 1.2% growth in 2024

That’s some impressive nominal growth, at least.