Morris Hikes Cigarette Prices
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Altria Group Inc.&#39;s Philip Morris USA has started to increase cigarette prices, providing what some analysts consider the first sign of life in the US cigarette market since 2002.
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Rising energy prices pushed wholesale prices up in May, but the measure of core producer prices registered a small increase, suggesting that high gasoline prices are not affecting the cost of other goods.
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Prices at the wholesale level rose 3.2 percent in November, the biggest increase in 34 years, after a steep increase in wholesale gasoline prices.
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U.S. blue chips rose on Thursday, led  by Altria Group Inc. MO.N and other tobacco stocks, after a  federal appeals court expressed skepticism about whether the  government could force cigarette makers in a lawsuit to pay  billions of dollars.
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Philip Morris, a unit of Altria Group Inc. (MO.N: Quote, Profile, Research) , told wholesalers on Thursday it would reduce its &quot;off-invoice&quot; discounts to $5.50 a carton from $6.50, a move that
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UK brewer Scottish & Newcastle, warns of "substantial price increases" to offset rising costs.
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The Scottish government is to announce plans to increase the age for purchasing tobacco from 16 to 18.
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Cigarette makers have revved up  price promotions in recent years, a strategy they know will  lead to more underage smoking, an economist testifying in the  U.S. government's racketeering trial against the industry said  on Wednesday.
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Gasoline prices extended their climb yesterday, rising a cent overnight while oil and gas futures rose on concerns about gasoline production.
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A big jump in energy costs sharply pushed up prices that U.S. manufacturers and wholesalers paid for goods last month, but outside of energy the inflation picture looked tame.
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The government highlights the rise in the legal minimum age at which tobacco can be bought in England and Wales.
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Gas prices continued to rise during the holiday shopping season.
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ScottishPower announces rises in its gas and electricity prices from next month.
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U.S. wholesale prices were higher than expected in May, thanks to gasoline.
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Altria Group Inc., the parent of tobacco company Philip Morris, Wednesday raised its regular quarterly dividend to 73 cents from 68 cents.
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Philip Morris USA cut wholesale  discounts on its best-selling Marlboro cigarettes and three  other brands, a spokeswoman said on Friday, effectively raising  prices for the first time in more than two-and-a-half years.
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Philip Morris USA on Monday disputed a   Massachusetts study that said the amount of nicotine in   cigarettes -- including its top-selling brand, Marlboro --   increased steadily from 1998 to 2004.