It's not an exaggeration to say that the construction industry is beginning to experience the material impact of an extended period of rapid inflation. Recently, rises in project costs have been exacerbated by the long-awaited re-opening of the economy and the subsequent spike in demand for COVID- and Brexit-affected resources – including both materials and labour.

Put simply, inflation – which is expected to reach 4% by the end of the year despite having recently levelled off – is now threatening to derail the speed and cost at which projects can be delivered across the country.