Latest BCIS tender price index predicts inflation
Tender prices are forecast to rise over the next six months and spike by 30% over the next five years, the RICS鈥� 黑洞社区 Cost Information Service (BCIS) has said.
Peter Rumble, BCIS鈥� information services manager, said the construction industry was 鈥渆xpected to recover at a faster rate鈥� than previously predicted, which, along with an expected increase in input costs 鈥渙f around 17%鈥� over the next five years, would stoke inflation.
The latest BCIS tender price index found that tender prices rose by 6.3% in the third quarter of 2013 compared to the previous year.
The volume of construction orders in the UK rose by 18% compared with a year earlier, fuelled by increased orders in the commercial, industrial and housing sectors.
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