{
  "query": "UK construction cost inflation 2024-2026 steel industry benchmarks",
  "claims": [
    {
      "claim": "In 2024, UK steel prices for structural steel remained stable or saw moderate increases up to 3%.",
      "verbatim_quote": "Structural Steel: Stable to +3%",
      "source_url": "https://coremetsteel.com/news-insights/uk-steel-price-forecast-2025-2026/",
      "relevance": "high"
    },
    {
      "claim": "For 2025, UK structural steel prices are projected to remain stable or increase by up to 4%.",
      "verbatim_quote": "Structural Steel: Stable to +4%",
      "source_url": "https://coremetsteel.com/news-insights/uk-steel-price-forecast-2025-2026/",
      "relevance": "high"
    },
    {
      "claim": "The price of concrete reinforcing bars (steel) in the UK decreased by 7.2% in the 12 months leading to February 2026.",
      "verbatim_quote": "Concrete reinforcing bars (steel) | -7.2",
      "source_url": "https://www.gov.uk/government/statistics/building-materials-and-components-statistics-march-2026/construction-building-materials-commentary-march-2026",
      "relevance": "high"
    },
    {
      "claim": "UK construction cost inflation for 2024 was recorded at an average of 3.0 percent.",
      "verbatim_quote": "The UK recorded an average increase of 3.0 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 the forecast period following 2024.",
      "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": "Merchant bar prices in the UK are forecasted to rise by 3% to 6% in 2025.",
      "verbatim_quote": "Merchant Bars: +3% to +6%",
      "source_url": "https://coremetsteel.com/news-insights/uk-steel-price-forecast-2025-2026/",
      "relevance": "high"
    },
    {
      "claim": "The overall material price index for 'All work' in the UK construction sector increased by 2.1% in February 2026 compared to the previous year.",
      "verbatim_quote": "The material price index for ‘All work’: increased by 2.1% in February 2026 compared with February 2025",
      "source_url": "https://www.gov.uk/government/statistics/building-materials-and-components-statistics-march-2026/construction-building-materials-commentary-march-2026",
      "relevance": "medium"
    }
  ],
  "market_context": "- [HIGH] In 2024, UK steel prices for structural steel remained stable or saw moderate increases up to 3%. (source: https://coremetsteel.com/news-insights/uk-steel-price-forecast-2025-2026/)\n- [HIGH] For 2025, UK structural steel prices are projected to remain stable or increase by up to 4%. (source: https://coremetsteel.com/news-insights/uk-steel-price-forecast-2025-2026/)\n- [HIGH] The price of concrete reinforcing bars (steel) in the UK decreased by 7.2% in the 12 months leading to February 2026. (source: https://www.gov.uk/government/statistics/building-materials-and-components-statistics-march-2026/construction-building-materials-commentary-march-2026)\n- [HIGH] UK construction cost inflation for 2024 was recorded at an average of 3.0 percent. (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 the forecast period following 2024. (source: https://publications.turnerandtownsend.com/global-construction-market-intelligence-2025/global-construction-cost-trends)\n- [HIGH] Merchant bar prices in the UK are forecasted to rise by 3% to 6% in 2025. (source: https://coremetsteel.com/news-insights/uk-steel-price-forecast-2025-2026/)\n- [MEDIUM] The overall material price index for 'All work' in the UK construction sector increased by 2.1% in February 2026 compared to the previous year. (source: https://www.gov.uk/government/statistics/building-materials-and-components-statistics-march-2026/construction-building-materials-commentary-march-2026)"
}