Ten Things You Need to Know Today: 8 August 2023

The Week’s daily digest of the news agenda, published at 8am

1. Is cost of living crisis ‘ending’?

Economists said that average pay is about to start rising faster than inflation for the first time in more than a year. New inflation figures, due next week, are expected to show a fall in the consumer price index from 7.9% in June to about 6.8% last month. Average earnings data, also due next week, is likely to show a rise in wages of slightly more than 7%. “Based on this measure”, Ashley Webb, UK economist for Capital Economics told The Times, “the cost of living crisis appears to be coming to an end”.

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