TENDER PRICE INDEX

A new SCSI report shows that while construction costs are continuing to rise, the rate of increase eased significantly in the last six months of 2022. The latest Tender Price Index shows that the rate of commercial construction inflation increased by 4% in the second half of 2022, down from a record high of 7.5% in the first six months of the year.

According to the Tender Price Index, which is the only independent assessment of commercial construction tender prices in Ireland, the annual rate of inflation from January to December 2022 was 11.5%, down from 14% in the preceding year. The report indicates some variation across the regions, with a higher rate of inflation of 5% recorded in the Rest of Leinster and Connacht/Ulster, while the median rate in Dublin and Munster is in line with the national figure of 4%.