Building Construction Price Index (BCPI)

Building construction price of economy, weight

Building construction price refers the prices that contractors charge to construct a range of new commercial, institutional, industrial and residential buildings. Change of these prices over time can be measured using an index.

Economy refers to the entire set of resident institutional units. It is divided into sectors that consists of groups of resident institutional units. An institutional unit is resident in a country when it has a centre of economic interest in the economic territory of that country. It is said to have a centre of economic interest when there exists some location - dwelling, place of production or other premises - within the economic territory on, or from, which it engages, and intends to continue to engage, in economic activities and transactions on a significant scale either indefinitely or over a finite period of time.

The data for this variable are reported using the following measurements:

• Percentage