Materials prices are uncertain but be sure labour costs will rise

摘要

Since the EU referendum in 2016, uncertainty has been the buzzword for anyone making investment decisions. One tangible effect on construction has been the volatility of input cost inflation caused by depreciations in sterling. While imports account for only one-quarter of products and materials used here, the resulting double-digit increases in the cost of materials such as imported timber and structural metals pushed up inflation in construction materials and components to 5.2% in 2017 and 4.9% in 2018.