Big Tobacco Raising Cigarette Prices

 

(CSN) The Big Three of tobacco companies are instituting cigarette price increases, seen as a positive sign by tobacco industry analysts. Richmond, Va.-based The Altria Group Inc. is raising cigarette prices 7 cents per pack, or 70 cents per carton, on all its core brands except L&M, which will have a 7-cent-per-pack promotional decrease — effectively a price increase, according to Bonnie Herzog, managing director of tobacco, beverage and consumer research at Wells Fargo Securities LLC. Altria's pricing action will take effect with shipments on or after Sunday, Nov. 16. Continued