Egypt: PM Cigarette Prices Increase

Prices of 10 types of Philip Morris cigarettes have been raised in Egypt, the Tobacco Division of the Chamber of Commerce announced. The increase went into effect April 6, according to the Egypt Independent.  

The increase is attributed to the rise in U.S. dollar price against the Egyptian pound. Ibrahim Imbaby, head of the Tobacco Division at the Chamber of Food Industries with the Federation of Egyptian Industries, confirmed that Philip Morris raised prices as a result of the decline in hard currency management and the rise in production costs.