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Cigarette prices climb: What's behind the new price hike?

Cigarette prices in Israel have increased due to a 1% VAT increase, with prices rising by 3% compared to December. Smokers are being hit by the price increases, which come just ten months after a previous increase in taxes on cigarettes, e-cigarettes, and roll-your-own tobacco. The price hikes are much higher than the 1% VAT increase, with some brands seeing increases of up to 5.95%. Despite the rising prices, there has been no public protest as cigarettes have a negative image and public policy aims to reduce consumption. Retail chains are taking advantage of the situation to raise prices, knowing that selling cigarettes attracts customers and prevents them from going to competing stores.

Original article source: https://www.jpost.com/business-and-innovation/article-837501
Source Id: 8499988862

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