The price of cement in Spain hit a record high as it increased by 18 per cent in September, the highest increase since the historical series started in 2002, according to the country’s National Institute of Statistics (INE).

In May the cement price increased by 14.3 per cent YoY and increases accelerated further in June to 16.5 per cent, followed by further increases in July and August, when the price saw a 16.8 per cent advance, noting new records. Prior to May, the largest increase in cement prices had occurred in February 2006, when a 9.3 per cent increase had been reported.