World No Smoking Day: Increasing the price of tobacco by 5% reduces consumption by 3.5%. In a 30-year-old study into pricing policy and tobacco consumption, it was found that increasing prices by only 1% reduces consumption by 0.5%. The results have now been published to mark World No Smoking Day on 31 May. Today a 1% increase in the price of tobacco reduces consumption by as much as 0.69%. Source 6t.
Raise the price. Smoking is a bane that we would do well to rid the world of. At least, what the cigarette companies with all of its other carcinogenic chemicals is a bane to be gotten rid of. Cigars are a totally different subject.
Edited: Abnninja on 30th May, 2017 - 11:06pm