Q2 construction costs ↑ at 2x BoC's 2% inflation target.

Home building costs grew 1.0% in Q2, up 3.7% since last year.

Non-residential costs jumped even more: 1.6% growth in Q2, 4% yearly increase.

Big cost drivers? Plumbing (+3.7%), HVAC (+3.0%), utilities (+2.9%), and steel (+2.7%).

Tariffs & labour crunch are pushing prices up and causing project delays.