Egypt’s top cigarette maker, Eastern Tobacco Company SAE, said on Thursday it had raised prices of some of its cigarettes by 4.5% to 6%, citing higher labor costs.
The retail price for its Mondial cigarettes will rise to 17.50 Egyptian pounds ($1.05) from 16.50 pounds, it said in a statement.
The retail price for Black Label cigarettes will rise to 23 Egyptian pounds ($1.40) from 22 pounds, it said in a statement.
Managing Director Hany Aman told Reuters that the increase in prices is due to higher labour and production costs.
The company has a market share of about 70% and foreign companies hold the remainder.