Table 2

Pass-through coefficients (February to April) and monthly effects, real prices

	Pre-2010				Post-2010
Data from month	β (Feb-Apr) or δ	95% CI	N	R²	β	95% CI	N	R²
Feb	−0.12***	−0.13 to −0.10	1676	0.12	−0.30***	−0.34 to −0.27	1213	0.19
Mar	1.06***	1.02 to 1.10	1700	0.77	0.75***	0.70 to 0.80	1187	0.44
Apr	−0.04***	−0.07 to −0.01	1176	0.01	0.04***	0.02 to 0.06	1678	0.01
May	−0.04***	−0.06 to −0.02	1199	0.02	−0.05***	−0.06 to −0.03	1606	0.02
Jun	−0.06***	−0.08 to −0.04	1211	0.03	−0.07***	−0.09 to −0.05	1602	0.03
Jul	0.14***	0.09 to 0.19	1216	0.05	−0.11***	−0.14 to −0.09	1667	0.06
Aug	1.04***	0.98 to 1.11	1210	0.52	0.12***	0.09 to 0.14	1493	0.09
Sep	0.05***	0.02 to 0.08	1202	0.01	0.08***	0.05 to 0.12	1436	0.03
Oct	0.05***	0.03 to 0.08	1205	0.03	−0.09***	−0.11 to −0.07	1447	0.08
Nov	0.04***	0.02 to 0.06	1190	0.02	−0.04***	−0.06 to −0.02	1447	0.01
Dec	0.03	−0.01 to 0.07	1189	0.00	−0.03***	−0.04 to −0.01	1455	0.01
Jan	−0.07***	−0.09 to 0.04	1151	0.03	−0.13***	−0.15 to −0.11	1280	0.16

The β coefficients for February to April are derived from equation 1 (in text), and are pass-through coefficients. The δ coefficients for May to January are derived from equation 2 and indicate the month-on-month average increase in cigarette prices, expressed in rand per pack. N = the number of brand-region combinations.
Significance: ***=1%; **=5%; *=10%