Construction inflation didn’t really emerge as a pressing topic until early this summer, when project managers began speaking worriedly about the rapid increase in prices for insulation, construction steel and other materials. But this was no surprise to Tomáš Černý, Head Cost Management in OM Consulting, who says construction price inflation began to spiral into orbit beginning in 2016. “Prices rose about 10% per beginning in 2016, so that by 2020, they’d gone up an average of 40-50%,” he says.
Since Tomáš Černý is a civil engineer rather than an economist, he’s not concerned with the . . .
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