Tender price inflation to fall back to 2.5%

Mace has called time on rampant tender price inflation after it soared to an estimated 8% last year amid deepening concern about the impact a big fall in house building will have on the industry in 2023.
In its second downward revision for this year, tender price rises are now expected to rebalance at around 2.5%, down from the 5.5% high for 2023 predicted last Spring.
Mace’s cost consultancy market report was downgraded to take account of headwinds from the Bank of England’s interes