Foreign media: The cost of materials has soared, and the price of stainless steel products has risen by 74.8%.

According to data from the Department of Business, Energy and Industrial Strategy, the average material cost of the entire department is 23.5% higher than in August 2020. That was higher than the figure reported in July when material costs rose by about 20% year-on-year.

During this period, the prices of steel and timber both soared. The price of imported sawn or planed wood was 74% higher than in August 2020, and the price of stainless steel products jumped 74.8% in the same period.