About half of the builders contacted indicated they have turned down work due to labor shortages. Despite tight labor markets, firms reported that wage pressures are moderate and stable, except for specific scarce skilled workers, such as information technology employees. Prices held steady at the retail level. Prices declined slightly for most manufacturing materials but edged up for a few specific items such as synthetic rubber and wires. Prices of construction materials were generally unchanged, with cement prices edging up in some locations.
Retailers expect no major price changes in the coming months.
To comment on this site, please fill out our feedback form.