Oireachtas Joint and Select Committees

Wednesday, 5 October 2022

Joint Oireachtas Committee on Health

Construction of the National Children’s Hospital: Discussion

Mr. David Gunning:

Our data on the inflation we apply come from three different sources.

They are the Society of Chartered Surveyors Ireland, Linesight and AECOM. Two are large consulting firms and the other is the society itself. We take an average of those historically in the preceding year. Tender price inflation in 2019 was 6.67%. Inflation in 2020 was 2.48% and inflation for 2021 was 10.24%, so we have had quite a spike. We are assuming that inflation level will continue. Our forecasted outturns we talked about this morning are assuming 10% inflation for this year.

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