By Michael Hubbard2019-02-14T06:00:00
Tender prices in the year to Q4 kept climbing in the wake of rising building costs, as construction output rebounded in Q3 – but new orders dropped
Tender price index ▲
Tender prices increased by 3.5% over the year at Q4 2018. Construction price inflation is still clearly present in the supply chain and remains a source of commercial tension.
Building cost index ▲
A composite measure of building input costs recorded a 4.7% yearly rate of change in Q4 2018. Demand for construction labour and materials, combined with weaker sterling and its effect on imports, are creating commercial pressures for the supply chain.
Consumer prices index ▲
The annual rate of change eased to 2.1% in December 2018. The yearly rate of change is continuing to move towards its target, which helps real wage growth in construction and the economy more broadly.
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