According to the cement companies they have been forced to increase their prices due to the free fall of the cedi against major foreign currencies.
They argue that the cedi depreciation has caused the price of raw materials to go up. This has also increased their cost of production thereby leading to an increase in prices.
This is about the second increment of cement prices in two months.
GHACEM, for instance, has increased its product by ghc2.40 pesewas across board.
The GHACEM Super Rapid Cement has increased from GHC 30.47 to GHC 32.47; Super Strong Cement has moved from GHC 30.83 to GHC 33.23 and the Ghacem Extra has also gone up from GHC 31.68 to GHC 34.18.
Meanwhile, Dangote Cement which produces just one variety, the 42.5 grade has been increased from GHC 32.55 to GHC 35.55.
The CIMAF cement has also increased all its grade of cements. The 42.5R which was previously sold at GHC 30.80 is now going for GHC 33.20.
The 42.5N grade has increased from GHC 30.30 to GHC 32.70. The 32.5R grade has gone up from the GHC 29.90 to GHC 32.30
In a related development, the Chairman of the Association of Ghana Industries (AGI) construction sector Rockson Dogbega told said that the construction sector has continuously had their margins declining due to the development.
He called on the government to give enough attention to the sector in order to save their investments.