Business News Tue, 8 Mar 2022

Cement prices to increase to GH¢55 per 50-kilo bag

Cement sold at GH¢45

Cedi depreciation cause of hike in prices

Fuel price increase leads to hike in general prices

The 50-kilo bag of cement which currently sells at GH¢45 per bag is expected to sell at GH¢55 per bag from next week.

According to JoyBusiness reports, the product’s price outside Accra will hit GH¢60.

It is believed that the increment is due to the depreciation of Ghana cedi, the recent hikes in transport fares, and the Russian-Ukraine war.

This has affected the movement of logistics and the transportation of some raw material from outside the country to aid in local production.

Also, the reduction of import discounts largely contributes to the high cost of imports according to some manufacturers.

The new price increments will however affect the cost of building and housing projects.
Source: www.ghanaweb.com
Related Articles: