The pressures deriving from higher consumer price inflation will be incorporated "only partially in wage developments, with unit compensation of employees expected to increase by around 2.3 per cent on average over the forecast horizon, thus outlining a significant loss of 'purchase".
The Upb writes it in the note on the economic situation of February in which the forecasts for 2023 and 2024 are updated and in which prices are expected to decline "gradually" with a dynamic "still higher than 2.0 percent next year" .
This year the Italian economy will slow down significantly compared to 2022, while continuing to expand by 0.6%.
This is the latest forecast by the Upb, according to which "after a still weak first quarter, due to the persistence of global tensions, growth will gradually strengthen, taking advantage of the easing of inflationary pressures".
According to the February note on the economic situation of the Parliamentary Budget Office, in 2024 the GDP trend would consolidate at 1.4 percent, "assuming the progressive improvement of the international geopolitical and economic context".
The estimate is in line with that of the government for this year but not for the next, given that the Nadef indicates growth of 1.9% for 2024.
The UPB specifies that "
