Inflation in material prices
The inflation of material prices has become a serious cause for concern for all involved in the industry. The shutdown of many factories during COVID-19 led to a serious shortage of materials that drove up prices. This issue will now be worsened and prolonged by inflation of fuel prices as a result of recent events in Ukraine.
Over the last year, Blake Newport has supported numerous clients with inflation-related issues, from reviewing provisions in both potential and existing contracts, to valuing claims arising and assisting with negotiations. See https://www.linkedin.com/posts/construction-news_balfour-ceo-warns-of-the-impact-of-hyperinflation-activity-6907964466571669504-PDl5