Market forecast: Why firms will feel the pressure in 2024

By Michael Hubbard2024-01-11T06:00:00

As we head into the new year, input costs are levelling off – in terms of materials at least – but as new orders become patchier, market competition is rising

01 / Summary

Tender price index ▲

Tender prices increased by just over 6% in the 12 months to Q3 2023. Price inflation trends remain elevated by historical measures, but the rate of change is now clearly slowing.

Building cost index ▲

A composite measure of building input costs rose by 1.7% in the year to November 2023. Some materials components of the index are deflationary, but construction labour rates are still rising relatively strongly.

Consumer prices index ▲

The consumer prices index slowed to 4.6% in the 12 months to October 2023. This is still more than double the target rate of 2%.

This is PREMIUM content, available to subscribers only

You are not currently logged in. Subscribers may LOGIN here.

SUBSCRIBE to access this story

SUBSCRIBE for UNLIMITED access to news and premium content

A subscription will provide access to the latest industry news, expert analysis & comment from industry leaders, data and research - including our popular annual league tables. You will receive:

Print/digital issues delivered to your door/inbox
Unlimited access to building.co.uk including our archive
Print/digital supplements
Newsletters - unlimited access to the stories behind the headlines

Subscribe now

Get access to premium content subscribe today