Three Cigarette-Makers Raising Prices for Second Time This Year

Source from:  AP 12/13/2011

NEW YORK - The three largest U.S. tobacco producers are pushing through wholesale price increases across most cigarette brands for the second time this year, a sign that the firms continue to command strong pricing power. Reynolds American enacted its price hikes Friday, while the increases from Altria and Lorillard are planned for Monday. Both Reynolds American and Lorillard will raise prices across all cigarette brands, while Altria's price increase will affect 14 U.S. cigarette brands, including Marlboro, Saratoga and Virginia Slims. All three industry players last raised prices in July. The second round of hikes comes as increases in state excise taxes have been fairly muted this year. Enditem