Timber and steel lead significant rises in construction materials
In their 2022 outlook, the Society of Chartered Surveyors Ireland (SCSI) said residential property prices were forecast to increase by 5% this year. File Picture: Larry Cummins
Ireland's manufacturing sector has been severely impacted by inflation with the wholesale price of electricity rising 260% over the past year while there were also large rises recorded for a range of materials, including steel and timber.
Just days after the Central Statistics Office (CSO) published figures which show Irish consumers being impacted by a 5.5% increase in prices last year, new figures show a similar impact for Irish manufacturers with the cost of materials increasing 8.6% and petrol prices jumping 13.9%.
