Commercial Management
Cost Indices for Construction
Written by:
CappKind Cost Management
Date:
09/10/23
Cost Indices for Construction
August 2023 Bulletin
CappKind present cost indices for construction based on a quarterly basis. The ONS, Construction Output Price data is presented. This enables our consultants and clients to access a consistently formatted set of construction inflation index data.
The following charts are provided,
- All Construction Output Prices, All New Work 5-year Trend
- All Construction Output Prices, Housing 12-month Trend
- All Construction Output Prices, Infrastructure 12-month Trend
The price base of the indices is 2015=100. In June 2023,
- All New Work, 12-Month Inflation = 6.11%
- Housing New Work, 12-Month Inflation = 7.45%
- Infrastructure New Work, 12-Month Inflation = 4.26%
Long-term (5-year) trends in construction output prices are,
- All New Work, 5-year Inflation = 28.52%
- All New Work, Rolling Annual Inflation* = 4.94%
*Rolling Annual Inflation is the arithmetic mean of the 12-month change in output prices, calculated every month, for the last 5 years. This provides an indicator of the ‘background level’ of expected construction industry output inflation.
Chart 1: All Construction Output Prices, New Work, 5-year Trend
Chart 1 Data Grid
| All New Work (2015=100) | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
| 2018 | 107.8 | 107.5 | 108.4 | 108.8 | 109.1 | 109.4 | 109.4 | 109.2 | 109.4 | 109.5 | 110.7 | 110.7 |
| 2019 | 111.0 | 111.5 | 111.8 | 112.6 | 113.3 | 113.9 | 114.3 | 114.0 | 113.8 | 113.3 | 113.4 | 112.8 |
| 2020 | 113.3 | 113.2 | 113.3 | 113.4 | 113.5 | 113.7 | 114.0 | 113.9 | 114.2 | 114.3 | 114.9 | 115.2 |
| 2021 | 115.6 | 115.8 | 115.9 | 116.5 | 117.6 | 118.2 | 119.0 | 120.0 | 120.1 | 121.7 | 122.1 | 121.7 |
| 2022 | 124.5 | 124.4 | 125.3 | 128.0 | 131.8 | 132.5 | 133.0 | 132.1 | 133.5 | 135.1 | 135.5 | 134.8 |
| 2023 | 137.3 | 137.7 | 138.9 | 139.7 | 140.1 | 140.6 | – | – | – | – | – | – |
Chart 2: Housing, New Work, 12 Month Inflation
Chart 2 Data Grid
| Housing New Work (2015=100) | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
| 2022 | 129.7 | 129.9 | 130.6 | 133.2 | 134.6 | 135.6 | 136.6 | 135.9 | 137.2 | 139.1 | 139.9 | 139.5 |
| 2023 | 142.5 | 143.1 | 144.2 | 144.8 | 145.3 | 145.7 | – | – | – | – | – | – |
Infrastructure, New Work, 12 Month Inflation
Chart 3 Data Grid
| Infrastructure New Work (2015=100) | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
| 2022 | 119.7 | 119.5 | 120.6 | 123.4 | 133.3 | 133.7 | 133.5 | 132.4 | 133.7 | 134.5 | 134.9 | 134.1 |
| 2023 | 135.6 | 136.7 | 138.2 | 138.6 | 139.1 | 139.4 | – | – | – | – | – | – |
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