Pace of prices rises slowed and cost inflation eased to a 22-month low.
had watered down the government's target to build 300,000 homes a year following backlash from MPs in his own party, though the reason was not based on economic considerations.
Tuesday's construction data showed building activity slowed without the intervention of backbench Tory MPs. Respondents pointed to higher borrowing costs and worries about the economic outlook as reasons why construction activity was curtailed. Optimism was also recorded as being the lowest for two-and-a-half years and, aside from the levels seen at the start of the pandemic, the degree of positive sentiment was the joint-weakest since December 2008., the rate of price increases slowed and cost inflation eased to a 22-month low.
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