Dr David Crosthwaite, chief economist at BCIS, said: ‘The newly resumed construction materials price indices show modest growth throughout 2025 after a period of sustained downward movement.
‘This presents a double-edged sword for the construction sector. On the one hand, it perhaps suggests demand has improved or it could simply be reflective of higher prices being charged by suppliers.
‘On the other hand, inflationary pressures from materials prices could be returning and with them, the potential for higher project expenses and tighter margins for contractors. However, it should be noted that growth levels appeared reasonably modest at the end of last year.’
Elsewhere in the DBT report, the greatest annual inflation seen for individual resources was in imported sawn or planed wood prices, up 11.9% in the year to November 2025, followed by an 8.5% rise for electric water heaters.
Cement, imported plywood, concrete reinforcing bars (steel) and gravel, sand, clays and kaolin (exc Aggregate Levy) were the only resources of those in the dataset to see a decrease in annual price movement in November.