UK cigarette prices set to soar in Spring Budget

Mar.17.2023

UK cigarette prices set to soar in Spring Budget

UK tobacco tax increase raises prices for smokers, with 20-pack cigarettes now costing over £14 due to a 12% rise.

According to reports, British Chancellor of the Exchequer, Jeremy Hunt, has increased the tobacco tax in the spring budget.

After the increase in tobacco tax, the price of a pack of 20 cigarettes will exceed £14, adding further strain to the budgets of over six million smokers in the UK.

The cigarette tax will increase by 10.1% based on the retail price index, plus an additional 2%.

The price of hand-rolled cigarettes will increase by an additional 6% on top of the existing retail price index of 10.1%.

According to data from the UK's National Statistics Office, the current average price for a pack of 20 cigarettes is £12.84 (approximately RMB 107). Therefore, a 12% price increase would bring the cost to £14.38 (approximately RMB 120), resulting in an extra £1.54 (approximately RMB 12.8) per pack.

The last time cigarette prices increased was in October 2021. The rise in tobacco prices is part of the UK's plan to achieve a smoke-free goal by 2030.

Reference:

Smokers face bad news as the Budget results in a significant increase in the price of cigarettes.

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