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5 Things You Need To Know, Today, on Wednesday 17th August 2022
5. China's premier has called on the country's richest provinces to offer economic support to boost pro-growth measures.
The country saw consumption and output unexpectedly slow down in July.
4. Young people now watch almost seven times less broadcast television than people aged over 65, according to a report from regulator Ofcom.
It said 16 to 24-year-olds spend just 53 minutes watching TV each day, a two-thirds decrease in the past 10 years.
3. Pay has fallen further behind the rising cost of living, according to the ONS.
While average wages rose 4.7% between April and June, that was outpaced by inflation - or price rises - which is growing at a much faster pace, as a result, the "real value" of pay fell by 3%.
2. The UK is expected to take delivery of a shipment of gas all the way from Australia next week, as the pressure on European energy supplies grows.
The liquid natural gas (LNG) is due to arrive on 22 August, as countries have been seeking alternatives to Russian gas following the invasion of Ukraine.
1. UK inflation hit 10.1% in the year to July, according to the ONS.
The figure is up from 9.4% in June and higher than the 9.8% prdicted and worse is yet to come, expected to peak later this year at 13.3% which will push the UK into a recession, according to the Bank of England.