Cigarette prices were on the agenda with the hikes in April and May. With the approach of July, an SCT hike is expected for cigarettes. According to the law, the SCT of cigarettes is increased in January and July by the producer inflation (PPI) for the previous 6 months. Accordingly, cigarette prices are expected to increase by at least 10 lira. So, how much will cigarette prices increase? How many lira will the cigarette hike be in 2024?
Cigarette prices are on the agenda with successive increases. In the past weeks, cigarette prices have increased by 3 TL. With the approach of July, Special Consumption Tax (SCT) hike is on the way to cigarette prices. SCT is increased by the 6-month producer price index (PPI) in January and July. In the first 5 months of the year, the PPI was 17.87 percent. With the 20 percent increase, the minimum lump sum tax amount will be 34.2 liras per pack. There is also a lump sum tax of 4.8 liras per pack as the second tax on cigarettes. This amount will be 5.8 lira with a 20 percent increase.
When will the cigarette hike be and how much will it be?
In the light of these calculations, it is estimated that the retail price of cigarettes will not remain below 60 TL. Since the cheapest cigarette on the market is already 56 TL, the price is expected to rise to 66 TL as a result of a 10 TL tax increase.
The President of the Republic is authorized to determine the implementation periods in days or months, or to decide not to apply the amounts deemed to be redetermined in terms of the goods and months to be determined.
Current cigarette prices
The most expensive cigarette of the BAT group was 75 TL and the cheapest was 58 TL; the most expensive cigarette of the TT group was 64 TL and the cheapest was 53 TL; the most expensive cigarette of the Imperial Tobacco group was 70 TL and the cheapest was 56 TL. The most expensive cigarette of the JTI cigarette group was 70 TL and the cheapest was 58 TL; the most expensive cigarette of the Philip Morris (PM) cigarette group was 70 TL and the cheapest was 63 TL.
