Italian economist warns of inflation risks in Europe

STORY: Italian economist warns of inflation risks in Europe DATELINE: Aug. 4, 2022 LENGTH: 00:01:21 LOCATION: Rome CATEGORY: ECONOMY SHOTLIST: 1. various of street views of Rome 2. SOUNDBITE (English): CARLO ALTOMONTE, Economist at Bocconi University in Milan STORYLINE: An Italian expert has warned that the lack of awareness of inflation in Europe may lead to a slowdown in consumption and investment over the next months. SOUNDBITE (English): CARLO ALTOMONTE, Economist at Bocconi University in Milan "I would say that we are much less used to the problems of inflation, rather than the currency devaluation. I would have to say that we have been in the single currency plus the very low inflation environment which we have been used to over the last ten years. I've never heard anyone recently talking about the value of the euro versus the dollar. I see many people keeping a lot of cash, a lot of liquidity in their bank accounts without realizing that this ability is going to be erased pretty quickly by the deg