Displaying items by tag: inflation
Lafarge Cement Zimbabwe conscious of effects of inflation
28 November 2019Zimbabwe: LafargeHolcim subsidiary Lafarge Cement Zimbabwe has complained of implied year-on-year inflation of 350% in September 2019 having possible knock-on effects on its business. Company secretary Flora Chinhaire blamed a 19% year-on-year drop in domestic consumption on ‘declining demand from homeowners due to escalating mortgage financing costs’ and the effects of foreign currency constraints on payments to suppliers for capital expenditure projects. All Africa has reported that power supply issues and unplanned stoppages caused a 1% decline in productivity at Lafarge Cement Zimbabwe’s 0.5Mt/yr integrated cement plant, where it operates a single wet production line.
The International Monetary Fund (IMF) has forecasted a 5.3% contraction in Zimbabwe’s gross domestic product (GDP) in 2019.
Cuban government publishes price lists of products including cement to counter inflation
18 July 2019Cuba: The Ministry of Finance and Prices has published a list of prices for a range of products, including cement, that are sold in state-run stores and agricultural markets. The ministry says that the initiative is intended to evaluate the local market at the municipal level in response to concerns about inflation following a government-mandated salary increases, according to 14ymedio. Shops that violate the regulated price lists may face sanctions.