From today, the price of a 50-kilogram bag of cement is likely to rise by more than $5 to $66.
This was captured in a JoyBusiness news report. Consumers in Accra may be stung the hardest by the projected hike, according to sources.
This is because some firms want to recoup some of the costs of transporting items outside of the metropolis to other parts of the country.
“We can manage the manufacturing price,” one of the producers told JoyBusiness, “but we don’t know about the retail price in other locations.”
However, if shipping charges and other related costs are added to the product, we will do our best to take some of the cost of decreasing the margin of increase.
According to the makers, the increase is due to a variety of difficulties, the majority of which they have been attempting to resolve for some time.
They claim that the increase is due to the recent depreciation of the Ghana cedi, as well as increases in the prices of petroleum items and transportation charges.
They also stated that their predicament has been made worse by supply issues for their production inputs as well as difficulties importing various raw materials as a result of events in Russia and Ukraine.
Manufacturers have also expressed dissatisfaction with some of the port fees, which they claim force them to pass on to consumers.
Impact on the economy
In the short term, the development may have an influence on housing prices and the personal budgets of many people who are now building homes in the country.
It could also have an impact on the cost of some of the county’s ongoing construction projects. The changes may also raise the cost of conducting business and have an impact on the country’s rising inflation rate.