Market forecast: Weathering the storm


The UK is now clearly heading into recession but strong momentum in construction output should help to insulate our sector, despite only slightly slowing cost pressures

01 / Summary

Tender price index

Tender prices increased by 10.9% in the 12 months to Q4 2022. Price inflation trends will persist over the first half of 2023, as supply‑side problems and construction output momentum combine.

Building cost index ▲

A composite measure of building input costs increased by 8.5% over the year to November 2022. A slower rate of input cost inflation is helpful, although it is still elevated by historical measures.

Consumer prices index

The consumer prices index rose by 10.7% in the 12 months to October 2022. Consumer price inflation seems to be reaching its peak and looks likely to slow this year.

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