The latest SCSI Tender Price Index report indicates an easing of construction price inflation, attributed to fuel and energy prices abating, coupled with a slight easing in supply chain issues.
The latest Index shows that, while costs are continuing to rise, the rate of inflation eased significantly towards the end of last year to 4%.
SCSI president Kevin James said:
“While there are signs the rapid rate of construction inflation has peaked, it is also likely the increased costs of fuel and energy will continue to impact manufacturers for the foreseeable future. The SCSI Tender Price Index has risen by a record 26 per cent over the last two years and concern remains as to how long it will take for inflation to fall to more acceptable levels”.
The Tender Price Index is compiled by Chartered Quantity Surveying members of the SCSI. The Tender Price Index 2H 2022 is based on sentiment returns only.