Travis Perkins Warns of Higher Construction Prices, Times Says
Travis Perkins Plc has told customers to prepare for higher prices of its building materials, the Times reported.
The U.K. building-goods supplier expects cement prices to increase 15%, chipboard 10% and paint 5%, the Times said. The warning follows a Bank of England forecast that inflation will rise above its 2% target, breaching 2.5% by the end of the year before tailing off.
The building materials crunch comes as U.K. house prices soared 10.2% in the year to March, according to the Office of National Statistics. Still, the Confederation of British Industry told the Times that it sees supply issues and price pressures as “transitory.”
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