STORY: Italy's inflation rises moderately in October as EU cuts its 2024 GDP growth forecast
SHOOTING TIME: Recent footage
DATELINE: Nov. 16, 2024
LENGTH: 00:01:06
LOCATION: Rome
CATEGORY: ECONOMY

SHOTLIST:
1. various of streets in Rome
2. various of banks in Rome
3. various of euros

STORYLINE:

Consumer prices index in Italy increased by 0.9 percent in October compared to the same month last year, Italy's National Statistics Institute (ISTAT) reported Friday.

ISTAT noted the index in October remained largely stable on a monthly basis. However, some components saw notable changes, including prices for unprocessed food, which surged by 3.4 percent year-on-year in October, compared to an annual 0.3 percent increase in September, and the regulated energy prices, which climbed by 3.9 percent in October after a 10.4 percent jump in September.

Meanwhile, the European Commission's updated projections also show Italy's GDP growing by 0.7 percent in 2024, down from a May forecast of 0.9 percent. This outlook is more conservative than the predictions of ISTAT and the Italian government, which still anticipate an at least 1.0 percent growth for the year.

The commission also expects the Italian economy to expand by 1.0 percent in 2025, slightly below its earlier forecast of 1.1 percent.

On Italy's debt-to-GDP ratio, the commission expects it to increase from 136.6 percent of this year to 138.2 percent in 2025 and 139.3 percent in 2026.

Xinhua News Agency correspondents reporting from Rome.
(XHTV)