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chemical engineering cost estimation 7

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Inflation forecasts are like weather forecasts. A good forecaster can make an acceptable good job in a short term forecast, but predicting the mid term is other history.
If you are working in an organization, financial of accounting guys will estimate this for you. When doing an economic analysis of a project, what is normally done is to consider this inflation "forecast" as an allowance. Later, doing a reapprisal (like to see one) of such economic analysis, you will realize that you never thought that the nickel prices are sky-rocketing, or crude oil has turned down (???).
So, it would be an interesting exercise to start such survey of suppliers here. Any suggestion, Larry?
Have a safe day
J.Alvarez
 
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