Further surges in the price of timber and steel

Inflation causes rise in manufacturing costs

A trainee bricklayer at World Skills London 2011 exhibition.

Annual manufacturing prices increased by 3.5% in January 2022, according to recent statistics by the Central Statistics Office.

The manufacturing industry is under pressure caused by inflation as materials such as rough timber suffered a price increase of 70% last month. Steel also saw a hike in price as structural steel and reinforcing metal is up by 28%.