By Michael Hubbard2020-02-17T06:00:00
New work output expanded in the latest quarter to a year-on-year figure of 4%
Tender price index ▲
Tender prices increased by 2.3% over the year at Q4 2019. Although still positive on a yearly basis, it is the fourth consecutive quarter where the rate of change slowed.
Building cost index ▲
A composite measure of building input costs recorded a 3.4% yearly rate of change in Q4 2019. Materials prices mostly fell from Q3 to Q4 but labour rates stayed elevated in the main.
Consumer prices index ▲
The annual rate of change slipped to 1.3% in December 2019 from 1.5% a month before. This is significantly below its target rate of 2% but will help real-terms wage increases.
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