Canadian Building Price Index Increases in Q2

On Thursday, Statistics Canada (StatCan) released its national summary of the Building Construction Price Index (BCPI) for Q2.

Residential construction costs rose 1.0%, following a 0.9% increase in Q1. Nonresidential building costs increased 1.6%, up from a 1.0% gain in Q1.

Compared to a year earlier, residential building construction costs in the 15-census metropolitan area (CMA) composite rose 3.7% in Q2, while nonresidential costs climbed 4.0%.

StatCan noted that price increases at the component level were partly influenced by rising construction material costs, including some affected by tariffs and associated countermeasures. However, subdued construction activity in major regions like Toronto and Vancouver offset upward pressure at the aggregate level.