Material Shortages & Inflation
In recent times the sector has facing unprecedented material shortages and inflation in a number of areas (including gypsum products, steel, fixings, insulation, sealants and adhesives and timber).
Geopolitical events have manifested as a number of intense supply issues over the past 5 years resulting in periods of rapid inflation and shortage. FIS is urging the supply chain to heed the advice of the Construction Leadership Council with regard to managing the risk of price movements.
This is a issue for the entire supply chain, but specialist contractors remain under pressure to acceot to a fixed price contracts that are not designed to cope with inflation at current levels. This situation is unacceptable, we need to be working together, alert and reactive to the challenges on the ground and focussed on the very real risks of undermining specifications, warranties and even compliance and, at the same time, destroying businesses in our rush to get the job done.
You can access the latest FIS guidance on managing Material Shortages and Inflation (which provides a backdrop and links to available price index sources) here.
Latest updates:
CLC Latest: Material Supply Chain Group
Statement from John Newcomb, CEO of the Builders Merchants Federation and Peter Caplehorn, CEO of the Construction Products Association, co-chairs of the Construction Leadership Council’s Material Supply Chain Group. As the first quarter of 2024 draws to a close the...
Product Platform Rulebook Update
Delivered as part of the Government’s Transforming Construction programme, the Product Platform Rulebook is a shining example of what can be achieved when government and industry come together to drive change. The Rulebook remains one of the Construction Innovation...
FIS Wage Rate Survey points to ongoing inflation and contractual pressures
The FIS Wage Rate Survey H2 2023 conducted in January 2024 revealed that, across the trades, FIS members have continued to experience wage rate increases averaging around 4% in key trade occupations (the full index is available to contributors only. The survey also...