By Michael Hubbard2022-02-10T07:00:00
As output rebounds, building costs are soaring at double-digit rates thanks to a variety of inflationary pressures, sending tender prices upwards
Tender price index ▲
Tender prices increased by 7% over the 12 months to Q4 2021. Price inflation will continue throughout 2022 as acute input cost pressures remain across the construction sector.
Building cost index ▲
A composite measure of building input costs increased by approximately 10% over the year to Q4 2021. Global and domestic supply chain issues, along with improved demand, have contributed to acute inflation trends.
Consumer prices index ▲
The consumer prices index rose by 5.4% in the 12 months to December 2021, the highest rate of change in 30 years. Consumer price inflation is expected to increase further still over the first half of 2022.
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