Accra-based JoyBusiness is reporting that the price of cement will increase by a little over 22% from next week.
In the report, the portal said the price for a 50-kilo bag of cement will be increased from the current GHC 45 to GHC55 per bag.
JoyBusiness cites sources who said the increment can be linked to the depreciating Ghana cedi, 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.
In respect of the cedi, the local currency is now in a near free-fall against major trading currencies.
As of Wednesday, the dollar was selling for Ghc7.80, meaning to purchase $1000 a buyer needed Ghc7.8.
But the government has also been blamed for putting too many taxes on the price of cement.