The price adjustment formulae is a method of calculating the increase, or decrease, in contractors’ costs over any period. The formulae and indices (over 200 of them) are widely used in various sectors in the construction industry, including civil engineering contracts and facility management.
Published: 21/11/2023
The price adjustment formulae is a method of calculating the increase, or decrease, in contractors’ costs over any period using the Price Adjustment Formulae Indices (PAFI) published by BCIS.
The formulae and the indices are widely used in larger building and civil engineering contracts. BCIS publish indices for building trades, civil engineering, specialist engineering and highways.
The publication dates of the monthly indices have contractual significance and are published on BCIS online.
The PAFI will, unless otherwise stated, be published monthly at 12 noon on the Tuesday following the release of the Office for National Statistics (ONS) Producer Price Indices (PPIs), which will usually be the Wednesday following the second Friday of the month.
The PAFI publication dates for 2024 are as follows:
- 23 January 2024
- 20 February 2024
- 26 March 2024 – Provisional
- 23 April 2024
- 29 May 2024 – Wednesday
- 25 June 2024
- 23 July 2024
- 20 August 2024
- 24 September 2024
- 22 October 2024
- 26 November 2024
- 24 December 2024
Publication outside of this schedule will be pre-announced.
