Weekly Economic and Construction Update – 04 August 2023

Weekly Economic and Construction Update – 04 August 2023

Date Published

4 August 2023

Document Type

Category

Author

TDUK
Summary

UK construction materials prices in June 2023 fell by 2.0% compared with a year ago according to the latest data from the ONS, which is lower than the +1.5% annual price inflation in May and the first annual price deflation since 2020. UK construction materials prices are falling from a high base and the rate of construction materials price inflation has been slowing since 26.8% peak in June 2022 (after the energy and commodity input price spikes following Russia’s invasion of Ukraine so the annual % change in materials prices starting to fall a year on from the price spikes was expected.