Smokers in Turkey are bracing for another price increase as a major tax hike on cigarettes is just around the corner. The Turkish Statistical Institute (TÜİK) is set to release new inflation data on July 3rd, and with it, a hike in the Special Consumption Tax (ÖTV) on tobacco products will become official.
Based on current inflation figures, a 12.92% increase in ÖTV is already locked in. But with the June inflation data still to come, experts are predicting the total tax hike could reach around 14%. And that means one thing for sure—higher cigarette prices.
At Least a 5 TL Increase Expected
According to a report from Sözcü, cigarette prices are expected to rise by at least 5 TL per pack, regardless of the brand. Depending on the final inflation rate announced Thursday, the increase could even be as much as 8 TL per pack.
Why Are Cigarettes Getting So Expensive?
The main reason behind the constant price hikes is the heavy tax burden. Tax expert Ozan Bingöl explains that a large portion of cigarette prices in Turkey comes from taxes like ÖTV and VAT. In fact, nearly 81% of the price of a cigarette pack is tax.
To put it into perspective, for a pack that currently costs 80 TL, about 64.5 TL of that goes directly to taxes.
So if you smoke, be prepared—starting Thursday, lighting up will cost noticeably more.
