This brickmaker saw inflation coming when the RBA didn’t
The boss of Australia’s biggest brick making company says the group has lifted prices of bricks by a combined 10 per cent over several increments to get “in front of the curve” as inflation built and there’s little sign that rate rises are hurting demand.
Lindsay Partridge, the managing director of Brickworks, said on Wednesday there was such a large pipeline of work still in the system because of a large new home construction backlog and a tradie shortage, that five consecutive monthly increases in interest rates by the Reserve Bank were having little impact thus far.
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