Following Lorillard's price hike of 1 July, Philip Morris USA announced to increase the price of a pack by USD 0.09 (EUR 0.06) this week, reports Convenience Store News.
In addition, R.J. Reynolds has reduced its off-invoice promotions, effectively increasing its cigarette prices in line with Lorillard and PM USA, according to Bonnie Herzog, managing director of beverage, tobacco and consumer research at Wells Fargo Securities LLC.
According to Convenience Store News, PM USA's move was widely expected after Lorillard last week announced it was increasing the price of its Newport Menthol brand by USD 0.05 a pack and Newport Non-Menthol by USD 0.11 per pack. (pi)
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