Cigarette price hikes on the way! Prices to be updated on Thursday

As cigarette prices continue to rise due to the impact of high inflation in Turkey, the Special Consumption Tax (ÖTV) rate will be updated again on Thursday following the announcement of the 6-month inflation difference.

According to the inflation figures announced by TÜİK, an increase of at least 12.92 percent in the ÖTV for the first 5 months of the year has been finalized, and with the addition of the inflation data for June, the ÖTV increase on cigarettes will reach the 14 percent level.

AT LEAST A 5 TL HIKE IS COMING FOR CIGARETTES

Due to the increase in the ÖTV rate, cigarette prices will rise regardless of the brand. Considering current cigarette prices, the increase to be applied as of Thursday is expected to be between 5 and 8 TL.

81 KURUS OF EVERY 1 LIRA SPENT ON CIGARETTES GOES TO TAX

The main reason for the excessive increase in cigarette prices stems from tax rates.

Tax Expert Ozan Bingöl stated that the majority of cigarette prices consist of ÖTV and VAT (KDV) taxes, noting, "For example, nearly 81% of a pack of cigarettes sold for 80 liras today consists of taxes. In other words, approximately 64.5 liras of a pack of cigarettes sold for 80 liras is ÖTV and VAT."