Tender prices increased by 1.4% over the year at Q3 2018. Inflationary pressures remain evident despite a trend to lower industry output. A composite measure of building input costs recorded a 4% yearly rate of change in Q3 2018. Input costs for construction labour and materials are maintaining cost pressures well above those for general economic measures. The annual rate of change eased to 2.4% in September. The yearly rate of change is the lowest for three months; it is below market expectations but still above its target of 2%.
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