ENR Construction Cost Index
MAY 2017 vs. MAY 2016
Total Construction Costs: +3.7%
Building Cost Index: +3.2%
Material Cost Index: +0.7%
Skilled Labor Costs: +1.8%
Common Labor Costs: +3.3%
Quick Analysis:
Inflation in construction costs continues to be driven by increases in labor costs. The Material Cost Index is likely to increase in the coming months given the U.S. tariffs on Canadian soft lumber (lumber is up 11.7% versus last year).
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