01 / Summary

Tender price index ▲

Tender prices increased by around 9% in the 12 months to Q3 2023. Price inflation trends remain elevated but are tracking a slower pace, which is expected to continue.

Building cost index ▲

A composite measure of building input costs is expected to increase by 1% in the year to August 2023. There is a larger number of components in the index that are deflationary, though labour rates are still rising strongly.

Consumer prices index ▲

The consumer prices index dropped to 6.7% in the 12 months to August 2023 from 6.8% in July. However, this is still over three times higher than the target rate of 2%.

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