Philip Morris USA is raising prices on Marlboro and other cigarettes by about USD 0.09 (EUR 0.07) per pack this week, Reuters reports.
The company is raising list prices by USD 0.90 per carton, or USD 0.09 per pack, on Marlboro and other brands such as Basic, Parliament and Virginia Slims.
It is also increasing the price of Benson & Hedges, Chesterfield, Lark and Merit by USD 1.80 per carton, or USD 0.18 per pack. The new list prices go into effect 9 February.
Philip Morris USA said it told trade partners about the plan on Wednesday, adding that the increases stem from its periodic evaluation of its pricing strategies.
Judy Hong, a Goldman Sachs analyst, called the increases "relatively modest" and said she expects a larger increase to come in the future due to the anticipated federal excise tax increase in April. (pi)