Michael Kunze, a renowned social medicine expert, has dedicated almost 30 years to studying the relation between tobacco pricing and tobacco consumption. As per the study, a meager one per cent hike in tobacco prices is bound to reduce its consumption by 0.5%. Following his footsteps, a diploma student called Richard Felsinger completed a study on the pricing policy between 1997 and 2015. The results of the analysis are now published and mark the World No Smoking Day, celebrated on 31st May. The study reiterates the earlier finding that increasing tobacco prices by 1% can reduce consumption nearly by 0.69%.
This also entails if the prices are increased by 5 per cent, consumption of tobacco may see a 3 to 5 per cent drop. Kunze also believes this as the realistic rise in price, which is acceptable to all parties, because with this hike a considerable number of people will consider quitting smoking. Furthermore, the price hike could be approved by tobacconists and Finance Ministries as well, because this would yield a reasonable surplus. Also Kunze added that the margin is so small that it is not likely to trigger illegal cigarette trade.
Smoking Cessation Expected to Have Positive Impact within a Few Days
Smoking has emerged as one of the foremost causes of illnesses and deaths worldwide. In Europe is has emerged as the biggest cause of premature deaths. Besides this, tobacco consumption is also a key reason behind the rising incidence of cancer, bronchitis, and other respiratory diseases worldwide. Quitting tobacco can have immediate positive effects. Within a few days of quitting cigarette the risk of cardiovascular diseases drops rapidly. This could be the single biggest reason impelling governments to levy a price hike on tobacco. However, cancer risks may remain elevated even for years after quitting tobacco.