Smoking in Singapore, one of the priciest places in the world to light up, has gotten more expensive. The cost of cigarettes and alcoholic beverages in the city-state increased 11% from a year earlier in March, according to the latest inflation data from the Singapore Department of Statistics. That follows a 15% increase in excise duty for all tobacco products in the local government’s budget for 2023, a move expected to generate $100 million in additional revenue per year.
(Bloomberg) — Smoking in Singapore, one of the priciest places in the world to light up, has gotten more expensive. The cost of cigarettes and alcoholic beverages in the city-state increased 11% from a year earlier in March, according to the latest inflation data from the Singapore Department of Statistics. That follows a 15% increase in excise duty for all tobacco products in the local government’s budget for 2023, a move expected to generate $100 million in additional revenue per year.
More stories like this are available on bloomberg.com
©2023 Bloomberg L.P.