Tender price inflation to soar to 10% this year

Leading cost consultant Arcadis is warning the spectre of stagflation could hit construction as soaring materials inflation and risk allowances in tenders delays project pipelines.
It estimates that disruption caused by the Ukraine War has magnified existing supply chain problems adding 3 to 5% to the cost of typical projects.
This is even though materials sourced from Ukraine barely account for 1.2% of the value of construction’s imports.
A combination of energy and material price inflati