Santo Domingo: Manufacturers have decided to increase the price per the sack of cement, by 76.4 per cent while warehouse owners justified this move, and also raised the cost of construction rods by 25 per cent, alleging that prices during the past eight months had been “fictitious”.

The sack of cement that two days ago cost 85 pesos rose to 150 pesos, while the pack of construction rods went from 1,400 pesos to 1,750.  The domino effect caused by the hike in cement costs also generated price surges in cinder blocks, from 14 to 15.50 pesos and from 18 to 22 pesos, respectively for block types 6 and 8.

At least one of cement factory, alleging “technical difficulties”, stopped production, which, in addition to higher prices, may also engender shortages, generating further cost hikes.

The Engineers, Architects and Land Surveyors Association (Codia) warned yesterday that raises in costs of steel, cinder blocks and cement could paralyse housing construction and sales similar to instances during the period 2000-2004.