Don't do this manually. Someone has already done the work for you and put it on www.cpan.org in the form of XML::RSS.

#!/usr/bin/perl
#Almost exactly from the docs.
use XML::RSS;
my $rss=XML::RSS->new();
$rss->parse($your_rss_feed_in_this_scalar);
foreach my $item (@{$rss->{'items'}}) {
    print "title: $item->{'title'}\n";
    print "link: $item->{'link'}\n\n";
    print "description: $item->{'description'}\n\n";
}
[download]

I'll leave the HTML bit as an exercise to the reader. . .