- Nov 10, 2007
- Reaction score
You've mistaken the consumer price index, to the construction price index. 4% has been a pretty typical rule of thumb for many years - and over 13 years that would be 66.5%. 51% increase in construction costs is only 3.2% a year. This is quite reasonable - and perhaps low, given the much higher increases in some of those early years (though lower and even negative more recently).TTC really faked it by using 51% inflation for 2010-2023. FYI, Bank of Canada says inflation between the last 13 years (2003-2016) is 25.66%. The $2.9B figure is an overestimate. Using 26%, the figure should really be around $2.3B.
To suggest that TTC are faking it, when you are ignorant of which price index to use, doesn't really support your case!