Executive summary:

Tender price index

The eighteen month decline in tender prices came to a halt in the first quarter but the short term outlook seems very uncertain.

Building cost index

The Building Cost Index has shown upward trajectory since the second quarter last year but movement over the next two quarters may depend on the outcome of wage negotiation.

Retail price index

The annual change in the Retail Price Index soared to 4.4% in March following the re-imposition of 17.5% VAT in January. It is expected to fall back to around 3% by the end of the year.