The price of cement is going up.
Caribbean Cement Company Limited has announced that come Monday, it will cost 5% more to purchase its products.
The ex-factory price of a bag of Carib Cement Plus will move from $525 to $550.
The company has cited increasing costs as one of the reasons for the adjustment.
Caribbean Cement says it has been faced with significant movements in expenses since it reduced prices last October.
They include a rise in the costs of diesel, coal, heavy fuel oil, packaging and electricity.
Caribbean Cement Company has estimated that the impact of the increase on the cost of home construction will be less than 1%.
Construction costs to be impacted by cement price increase
In the meantime, members of the Incorporated Masterbuilders Association of Jamaica are worried about the cement price increase.
Michael Archer, a member of the association, told RJR News it will have a negative impact on construction costs.
"Cement is a major component in construction and housing construction in particular. The cement company had reduced prices some months ago and therefore an increase of 5% may not be in excessive but it will have a negative impact on the price of construction goods going forward," Mr. Archer said.
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