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5 Things You Need To Know, Today, on Wednesday 1st December 2021

5. The emergence of Omicron raises the uncertainty around inflation, the chair of the Federal Reserve has warned.

In the past Jermoe Powell has called recent high rates of inflation transitory, a term he said should now be "retired", he also said the Fed should consider tapering its bond-buying stimulus more quickly.

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4. Asking prices for British residential property are likely to rise by 5% next year, but London looks set to underperform the national trend.

The latest official data shows that British house prices rose by 11.8% in the year to September, only just below a peak of 12.6% in June which was the highest in more than 15 years.

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3. Britain's blue-chip share index marked its worst monthly decline in more than a year as concerns over the Omicron coronavirus variant hammered economically sensitive sectors.

The FTSE 100 fell 0.7% after dropping as much as 1.7% through the day and it's shed more than 2% in November.

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2. A typical UK family will spend £1,700 more per year on household costs in 2022, according to a forecast for BBC Panorama.

The analysis, conducted by the Centre for Economics and Business Research (CEBR), projected the inflation rate would rise to 4.6% by Christmas mainly due to higher fuel and energy prices.

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1. NHS England is to issue detailed guidance to hospitals, pharmacists and GPs about the major expansion of the Covid booster vaccine programme.

Hospital hubs will be asked to offer jabs to the public as well as NHS staff and more pharmacies will be used.

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