Table 1

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

Pre-2010Post-2010
Data from month β (Feb-Apr) or δ 95% CINR2 β 95% CINR2
Feb0.04***0.03 to 0.0616760.020.02−0.01 to 0.0512130.00
Mar1.21***1.18 to 1.2517000.841.11***1.06 to 1.1511870.69
Apr0.13***0.10 to 0.1511760.090.12***0.09 to 0.1416780.06
May0.04***0.02 to 0.0611990.030.01***−0.00 to 0.0316060.00
Jun0.05***0.03 to 0.0612110.040.00−0.02 to 0.0216020.00
Jul0.33***0.28 to 0.3712160.290.11***0.09 to 0.1416670.05
Aug0.94***0.88 to 1.0012100.540.15***0.13 to 0.1814930.14
Sep0.11***0.09 to 0.1412020.090.17***0.14 to 0.2014360.11
Oct0.05***0.03 to 0.0612050.030.01−0.01 to 0.0214470.00
Nov0.04***0.02 to 0.0511900.020.02*−0.00 to 0.0414470.00
Dec0.02−0.01 to 0.0511890.000.02**0.00 to 0.0314550.00
Jan0.03***0.01 to 0.0511510.01−0.00−0.02 to 0.0112800.00
  • 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%