The price for a 50-kilo bag of cement is expected will be increased from the current ¢45 Ghana cedis to ¢55 per bag from next week.

News gathered from JoyBusiness also indicates that the product’s price outside Accra will hit ¢60.

Sources say the increment can be linked to the depreciating Ghana cedis, recent hikes in transport fares, and the Russian-Ukraine war, which has affected the movement of logistics and transporting some of the raw material from abroad for local production.

The development may impact house prices in the short term and the personal budget of many individuals who are currently putting up houses in the country.

Manufactures had in recent times pushed for government to take a second look at the taxes on the inputs and charges at ports.

They were hoping that could have helped the situation, especially last year.

But this didn’t get the needed attention from government.

These manufacturers hoped that waving some of these charges at the ports could have slowed the recent hikes that we have seen in recent times.

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Source: GhArticles.com