"Due to the grammatical open ended nature of the statement, and or Pinocchio's intent, different acts could happen. I earn an income now. Doesn't mean that I am earning an income in the moment, could mean that a decade ago, I didn't work or earn money, but I do, and have and will for the foreseeable future.
If Pinocchio is aware his nose tends to grow, and this is his intended use of the phrase, his nose wouldn't grow at that moment, as well as still technically be true. If Pinocchio's intent was more specifically in the moment... "My nose grows, now!" and his intent was deception because he knows the criteria for nose growth and knows this isn't it, then his nose would grow, even though factually, that is what happened. If Pinocchio was genuinely curious, with no intent to deceive or be utmost sincere, his nose would split into two and lil metal flesh crab men would pour out of the splinters of Pinocchio's nose and then they would devour him, and then seek refuge under the soil where they will wait until the time is right... "