Cigarette price breakaway?

PETALING JAYA: Philip Morris (M) Sdn Bhd’s decision to maintain the price of its cigarettes so far hints of a breakaway from the industry’s traditional practice of raising prices in unison.

Following moves by British American Tobacco (M) Bhd (BAT) and JT International Bhd (JTI) that cited cost pressure to raise the prices of their cigarettes by RM1 a pack, the delay or reluctance by Philip Morris to plug the difference in pricing is being closely watched.