Consumers to pay more for beer and cigarettes

Aussies planning to use their credit cards to purchase beer and cigarettes will now have to pay more for the products as new increases kicked in on Monday (August 1st 2011).

Smokers will have to pay an extra 34 cents for a pack of 40 cigarettes, while drinkers face an additional 36 cent charge when purchasing a crate of 24 full-strength 375 ml cans of beer, reports the Herald Sun.

According to the publication, this latest increase is likely to be particularly hard for Aussies because of the Consumer Price Index shows inflation at a two and a half-year high of 3.6 per cent.

The tax hike is an automatic one that occurs every February and August.

However, while taxes may have been increased yesterday, home loans customers may be relieved at the recent decision made by the Reserve Bank of Australia not to do the same to the cash rate, which remains at 4.75 per cent.

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