{
  "query": "UK construction cost inflation 2024-2026 steel industry projects",
  "claims": [
    {
      "claim": "The UK recorded an average construction inflation rate 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 projected 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": "Steel reinforcement prices in the UK fell by 6.6% between January 2025 and January 2026.",
      "verbatim_quote": "the Office for National Statistics reports a 0.2% increase in material indices for non-housing new work from January 2025 to January 2026, while steel reinforcement prices fell by 6.6% over the same period.",
      "source_url": "https://www.rlb.com/europe/insight/how-will-the-middle-east-crisis-impact-the-uk-construction-industry/",
      "relevance": "high"
    },
    {
      "claim": "Global construction cost inflation is projected to rise marginally to 4 percent in 2026.",
      "verbatim_quote": "On average, construction cost inflation is projected to settle at 3.9 percent globally in 2025, before rising marginally to 4 percent in 2026, though regional disparities persist.",
      "source_url": "https://publications.turnerandtownsend.com/global-construction-market-intelligence-2025/global-construction-cost-trends",
      "relevance": "medium"
    },
    {
      "claim": "Recent increases in metal prices are expected to impact costs for complex building and infrastructure projects in 2026.",
      "verbatim_quote": "Recent increases in metals prices, particularly copper and aluminium, are expected to affect specialist components such as electrical systems, cladding, and transmission infrastructure. While price hedging and supply chain dynamics may delay some impacts, sustained commodity inflation could increase costs for complex building and infrastructure projects.",
      "source_url": "https://www.arcadis.com/en-gb/insights/perspectives/europe/united-kingdom/uk-construction-market-view-spring-2026",
      "relevance": "high"
    },
    {
      "claim": "Fabricated structural steel prices saw a minor decrease of 0.5% or less in early 2025.",
      "verbatim_quote": "Both Lumber/Plywood and Fabricated Structural Steel are down 0.5% or less.",
      "source_url": "https://edzarenski.com/2025/02/21/construction-inflation-2025-2-21-25/",
      "relevance": "medium"
    }
  ],
  "market_context": "- [HIGH] The UK recorded an average construction inflation rate 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 projected 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] Steel reinforcement prices in the UK fell by 6.6% between January 2025 and January 2026. (source: https://www.rlb.com/europe/insight/how-will-the-middle-east-crisis-impact-the-uk-construction-industry/)\n- [MEDIUM] Global construction cost inflation is projected to rise marginally to 4 percent in 2026. (source: https://publications.turnerandtownsend.com/global-construction-market-intelligence-2025/global-construction-cost-trends)\n- [HIGH] Recent increases in metal prices are expected to impact costs for complex building and infrastructure projects in 2026. (source: https://www.arcadis.com/en-gb/insights/perspectives/europe/united-kingdom/uk-construction-market-view-spring-2026)\n- [MEDIUM] Fabricated structural steel prices saw a minor decrease of 0.5% or less in early 2025. (source: https://edzarenski.com/2025/02/21/construction-inflation-2025-2-21-25/)"
}