Ukraine War Construction Costs

Jamaica’s construction sector confronts its worst cost crisis in decades as Ukraine war commodity shocks combine with BOJ rate hikes now approaching 5 per cent.

The Ukraine war drives steel prices up 30% in weeks, threatening Jamaica’s construction cost crisis just as the BOJ accelerates its rate tightening cycle.

NHT reform passes Parliament in February 2022 as Russia invades Ukraine in the final days, signalling a potential commodity cost shock for Jamaica’s construction sector.