ROME, July 16 (Reuters) - The Italian economy will grow by 5.1% this year and 4.4% in 2022, posting a sustained recovery following the record COVID- induced contraction of 8.9% last year, the Bank of Italy forecast on Friday. In its quarterly economic bulletin the central bank estimated that gross domestic product grew by more than 1% in the second quarter from the previous three months. National statistics bureau ISTAT will release preliminary Q2 GDP data on July 30. Italian inflation will remain subdued over the following three years, the bank’s bulletin said, forecasting Italy’s EU-harmonised index to rise 1.5% this year, 1.3% in 2022 and 1.3% in 2023. The unemployment rate will average 10.5% this year and then ease gradually to 10.3% in 2022 and 9.9% in 2023. (Reporting by Gavin Jones)