Pipe Tobacco and Cigar Use Up, Cigarettes Use Continues Downward Trend (PM)
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From 2000 to 2011, U.S. consumption of pipe tobacco was up 482 percent and consumption of large cigars was up 233 percent, according to a new report by the Centers for Disease Control and Prevention. The increase in cigar use is somewhat misleading, since it could be due to companies increasing the size of small cigars in order to avoid higher taxes and regulation. Pipe tobacco, which saw the largest gain, is used in roll-your-own cigarettes. Overall, cigarette consumption was down 2.5 percent from 2010 to 2011.
Altria Group Inc. (NYSE: MO) are down 1.5 percent Thursday. Year-to-date, Philip Morris stock had gained 19.7 percent.
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Altria Group Inc. (NYSE: MO) are down 1.5 percent Thursday. Year-to-date, Philip Morris stock had gained 19.7 percent.
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