Construction costs surge again in April as inflation continues to pump up wholesale prices

File photo Image: Shutterstock/Dirk Hudson File photo Image: Shutterstock/Dirk Hudson THE PRICE OF building and construction materials has surged by over 18% on average in the 12 months to April, according to new figures from the Central Statistics Office .

Globally, the price of steel had already soared in 2021 amid supply chain bottlenecks and as economies reopened and construction projects recommenced. But the war in Ukraine — which along with Russia, is one of the world’s largest steel producers — pushed up prices even further over the past couple of months although there is some evidence that upward price pressures have begun to dissipate in recent weeks.

It will see the State pick up the tab for up to 70% of builders’ inflation costs related to projects that have commenced since 1 January and could cost the exchequer between €30 – €40 million over the first three months of the year, according to Minister for Public Expenditure Michael McGrath. #Open journalism No news is bad news Support The Journal Your contributions will help us continue to deliver the stories that are important to youHe added, “We are hearing that suppliers are only providing price quotes that last for a day, such is the level of flux in the market. As you can imagine this is creating great difficulty when it comes to accurately pricing construction projects, which by their very nature involve a longer timeframe to complete.

Supply issues/covid /demand bollocks..more Irish cancerous greed..really (really) cant wait til the next recession and i hope its m.f. bad..80's bad.. & these builders, plumbers, sparkies etc. are left begging 4 d smallest of jobs.. we really are a nation of vile greedy pricks

Yikes!

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