Cemex will raise domestic cement prices by an average of five per cent from January 15, a company executive said on Friday.
Cemex is the largest cement producer in Mexico, its second-largest revenue source after the United States. Sales in Mexico represent about 20 per cent of total sales.
"We have told our distributors about the price increase, which is going to have an average national impact on prices for consumers of about five per cent," Ricardo Charvel, vice president of institutional relations with Cemex Mexico, said.
Analysts also expect Cemex to raise its US cement prices this month. Company directors were not immediately available to confirm any plans for an increase in the United States.
Charvel said the price hike bids to compensate for higher production costs in Mexico because of increases in transport and energy costs and salaries.
Cemex often announces price increases at the start of each year. In 2006, Cemex raised prices 4.5 per cent on average, Charvel said.