{
  "query": "UK construction cost inflation 2024-2025 steel projects NEC contract contingency norms",
  "claims": [
    {
      "claim": "The UK recorded an average construction inflation increase of 3.0 percent in 2024.",
      "verbatim_quote": "The UK recorded an average increase of 3.0 percent, while Europe experienced average inflation of 2.9 percent.",
      "source_url": "https://publications.turnerandtownsend.com/global-construction-market-intelligence-2025/global-construction-cost-trends",
      "relevance": "high"
    },
    {
      "claim": "UK construction cost inflation is anticipated to remain steady at 3.5 percent in 2025.",
      "verbatim_quote": "In the UK and North America, construction cost inflation is anticipated to remain steady at 3.5 percent and 3.8 percent, respectively.",
      "source_url": "https://publications.turnerandtownsend.com/global-construction-market-intelligence-2025/global-construction-cost-trends",
      "relevance": "high"
    },
    {
      "claim": "Structural steel prices in the UK are forecast to remain stable or increase by up to 4% in 2025.",
      "verbatim_quote": "Structural Steel: Stable to +4%",
      "source_url": "https://coremetsteel.com/news-insights/uk-steel-price-forecast-2025-2026/",
      "relevance": "high"
    },
    {
      "claim": "In 2024, UK structural steel prices were stable to +3%, while rebar increased by 2% to 5%.",
      "verbatim_quote": "Overall annual movement: Merchant Bars: +4% to +7% Coil Sheets: +5% to +8% Structural Steel: Stable to +3% Rebar: +2% to +5%",
      "source_url": "https://coremetsteel.com/news-insights/uk-steel-price-forecast-2025-2026/",
      "relevance": "high"
    },
    {
      "claim": "The UK government effectively mandates the use of NEC contracts for publicly funded construction projects.",
      "verbatim_quote": "The UK Government’s Construction Playbook and Infrastructure and Projects Authority now effectively mandate NEC for publicly funded construction projects.",
      "source_url": "https://medium.com/@nihanthreddy65/why-nec-contracts-are-revolutionizing-uk-construction-and-what-you-need-to-know-38de679222c8",
      "relevance": "medium"
    },
    {
      "claim": "NEC contracts include built-in processes for early warnings and risk management to reduce overspend.",
      "verbatim_quote": "Fewer disputes: Built-in processes for early warnings and risk management. ... NEC contracts “encourage collaboration and sound project management principles,” which reduces the risk of overspend and project delays.",
      "source_url": "https://tcc-uk.com/what-every-contractor-should-know-about-nec-contracts-in-2025/",
      "relevance": "medium"
    },
    {
      "claim": "The annual price inflation for 'all work' construction materials in the UK was 3.0% from November 2024 to November 2025.",
      "verbatim_quote": "All work | 3.0 | 0.1 | Download data for table 1: construction material price indices, year-on-year and month-on-month percentage change",
      "source_url": "https://www.gov.uk/government/statistics/building-materials-and-components-statistics-december-2025/construction-building-materials-commentary-december-2025",
      "relevance": "high"
    }
  ],
  "market_context": "- [HIGH] The UK recorded an average construction inflation increase of 3.0 percent in 2024. (source: https://publications.turnerandtownsend.com/global-construction-market-intelligence-2025/global-construction-cost-trends)\n- [HIGH] UK construction cost inflation is anticipated to remain steady at 3.5 percent in 2025. (source: https://publications.turnerandtownsend.com/global-construction-market-intelligence-2025/global-construction-cost-trends)\n- [HIGH] Structural steel prices in the UK are forecast to remain stable or increase by up to 4% in 2025. (source: https://coremetsteel.com/news-insights/uk-steel-price-forecast-2025-2026/)\n- [HIGH] In 2024, UK structural steel prices were stable to +3%, while rebar increased by 2% to 5%. (source: https://coremetsteel.com/news-insights/uk-steel-price-forecast-2025-2026/)\n- [MEDIUM] The UK government effectively mandates the use of NEC contracts for publicly funded construction projects. (source: https://medium.com/@nihanthreddy65/why-nec-contracts-are-revolutionizing-uk-construction-and-what-you-need-to-know-38de679222c8)\n- [MEDIUM] NEC contracts include built-in processes for early warnings and risk management to reduce overspend. (source: https://tcc-uk.com/what-every-contractor-should-know-about-nec-contracts-in-2025/)\n- [HIGH] The annual price inflation for 'all work' construction materials in the UK was 3.0% from November 2024 to November 2025. (source: https://www.gov.uk/government/statistics/building-materials-and-components-statistics-december-2025/construction-building-materials-commentary-december-2025)"
}