Prices of building materials continue to soar on weekly basis. Just last week, cement price shot up GHC55 from GHC50.
The price is expected to rise again to GH60 tomorrow according building material retailers.
Bridget Otoo, a renowned broadcasting journalist and cement retailer also posted on her Facebook page to announce change in the prices at shops starting from tomorrow.
“Cement Prices will go up again by 5.5 cedis from tomorrow. Meaning a bag of cement will now exceed 60 cedis per bag in Accra -Tema. I don’t want to imagine how much it would be sold in places like Kumasi, Takyiman and Tamale.” she posted.
Just last week, The price of iron rods on the market starting from 1/4 (6mm) to 32mm (40ft) high tensile has jumped by 34% in less than 24 hours,
At the time, 12mm standard High tensile rod per ton which cost GH¢3,950 had increased averagely to GH¢5,400 on the market.
Checks then revealed a price per unit and a ton of iron rods has gone up across.
Lamenting about the recent hike in iron rod prices as of March 12, 2022, Building Engineer Abdulai Mahama said on 11th March, the material which cost GH¢6,200 per ton has in 24 hours jumped to GH¢8,500.
“Mr. President, please who is regulating the construction industry? We can’t leave {sic} in a country like this? How can reinforcement bars (high tensile) jump from GH¢6,200 per ton on 11th March to GH¢8,500 per ton on 12th March? 37% increment in 24 hours?? This is insane. Leadership must wake in Ghana” He wrote in a social media post.