Caribbean Cement Company Limited (Carib Cement) has cited increasing costs at a greater rate than its sales as the reason for its conservative 5 per cent price adjustment which becomes effective on Monday July, 11. The Company stated that it had been faced with significant increases in costs since it reduced its prices to customers last October. Carib Cement had been negatively affected by a 25 per cent increase in the cost of diesel, a 34 per cent increase in coal, a 40 percent increase in heavy fuel oil, a 4 per cent increase in packaging and a 21 per cent increase in the cost of electricity. Carib Cement informed that the ex-factory price of a bag of Carib Cement Plus will move from the current $525 to $550. The last time that Carib Cement increased its price was in July 2010, when the price per bag was $568.