{
  "query": "UK construction cost inflation 2024-2026 steel projects NEC4 contract management benchmarks",
  "claims": [
    {
      "claim": "The BCIS tender price index projects an average tender price inflation of 3.45% for 2026 across all sectors.",
      "verbatim_quote": "The BCIS tender price index shows tender price inflation running at 3.45% for 2026, but that’s an average across all sectors and all materials.",
      "source_url": "https://rospower.co.uk/blog/construction-costs-geopolitical-disruption-2026/",
      "relevance": "high"
    },
    {
      "claim": "Structural steel sections have experienced price increases of 15-22% since January 2026.",
      "verbatim_quote": "Structural steel sections. Up 15-22% since January 2026. Fabricated steelwork prices are even higher because fabricators are passing through both material cost increases and their own energy cost rises",
      "source_url": "https://rospower.co.uk/blog/construction-costs-geopolitical-disruption-2026/",
      "relevance": "high"
    },
    {
      "claim": "Steel surcharges reached 30% in March 2026.",
      "verbatim_quote": "Steel surcharges hit 30% in March.",
      "source_url": "https://rospower.co.uk/blog/construction-costs-geopolitical-disruption-2026/",
      "relevance": "high"
    },
    {
      "claim": "Ready-mix concrete prices for a C32/40 mix have risen from £85-£90 in 2024 to £100-£115 in 2026 in most of England.",
      "verbatim_quote": "a C32/40 mix that cost £85-£90 per cubic metre in 2024 is now £100-£115 in most parts of England.",
      "source_url": "https://rospower.co.uk/blog/construction-costs-geopolitical-disruption-2026/",
      "relevance": "medium"
    },
    {
      "claim": "NEC4 Secondary Option X1 provides a specific mechanism for managing inflation risk, which can be restricted to specific raw materials.",
      "verbatim_quote": "NEC4 ECC: Secondary option X1 – which must be selected in the contract data –provides a mechanism for the employer to agree to take on the risk of inflation. It has wide application but can be restricted to prices of specific raw materials only.",
      "source_url": "https://gowlingwlg.com/en/insights-resources/articles/2026/war-supply-chain-disruption-and-inflation",
      "relevance": "high"
    },
    {
      "claim": "Under NEC4 Option C (target cost), cost overruns are split between parties via a pain/gain share mechanism, while Option E (cost reimbursable) places inflation risk on the employer.",
      "verbatim_quote": "Under NEC4 Option C (target cost), the cost saving or overrun is calculated and split between the parties through a \"pain/gain share\" mechanism, and under Option E (cost reimbursable option), the employer bears the risk of inflation and other cost increases.",
      "source_url": "https://gowlingwlg.com/en/insights-resources/articles/2026/war-supply-chain-disruption-and-inflation",
      "relevance": "high"
    },
    {
      "claim": "Network Rail adopted the NEC4 Alliance Contract in 2024 for the £1.4 billion Midlands Rail Hub programme.",
      "verbatim_quote": "Network Rail confirmed in 2024 that it had adopted the NEC4 Alliance Contract for the proposed £1.4 billion Midlands Rail Hub programme.",
      "source_url": "https://www.necplanningsolutions.co.uk/post/the-future-of-nec-contracts-in-the-uk-a-2035-projection",
      "relevance": "medium"
    }
  ],
  "market_context": "- [HIGH] The BCIS tender price index projects an average tender price inflation of 3.45% for 2026 across all sectors. (source: https://rospower.co.uk/blog/construction-costs-geopolitical-disruption-2026/)\n- [HIGH] Structural steel sections have experienced price increases of 15-22% since January 2026. (source: https://rospower.co.uk/blog/construction-costs-geopolitical-disruption-2026/)\n- [HIGH] Steel surcharges reached 30% in March 2026. (source: https://rospower.co.uk/blog/construction-costs-geopolitical-disruption-2026/)\n- [MEDIUM] Ready-mix concrete prices for a C32/40 mix have risen from £85-£90 in 2024 to £100-£115 in 2026 in most of England. (source: https://rospower.co.uk/blog/construction-costs-geopolitical-disruption-2026/)\n- [HIGH] NEC4 Secondary Option X1 provides a specific mechanism for managing inflation risk, which can be restricted to specific raw materials. (source: https://gowlingwlg.com/en/insights-resources/articles/2026/war-supply-chain-disruption-and-inflation)\n- [HIGH] Under NEC4 Option C (target cost), cost overruns are split between parties via a pain/gain share mechanism, while Option E (cost reimbursable) places inflation risk on the employer. (source: https://gowlingwlg.com/en/insights-resources/articles/2026/war-supply-chain-disruption-and-inflation)\n- [MEDIUM] Network Rail adopted the NEC4 Alliance Contract in 2024 for the £1.4 billion Midlands Rail Hub programme. (source: https://www.necplanningsolutions.co.uk/post/the-future-of-nec-contracts-in-the-uk-a-2035-projection)"
}