British Land expects tender price inflation to hit 10%

Leading client British Land is expecting construction costs to rise 10% this year before dropping to around half that for the following two years.
In its result statement to the city this morning British Land said: “Our inflation forecast (based on tender price inflation) has increased to around 8-10% in 2022 from our previous forecast of 4.5%, but we expect that to moderate over the next 18 months as wages and commodity prices remain elevated but do not increase at the same rate.
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