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Expenses per unit will rise 20 percent in the second half, outweighing price increases, Gap said.
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Even if volume fell just a few percent with such a large price increase, the gap that would leave would be in the nine figures.
The price increases come as the gap narrows between overall rents in northern Brooklyn and Manhattan.
With costs up and revenue down, circulation price increases are not filling the gap.
Higher mortgage rates and swift price gains widened that gap, Blomquist said, attributing the steep price increases to "investors and other cash buyers who are not tethered to the typical affordability constraints".
This suggests that industry-initiated price changes are timed to reassure price-sensitive smokers and accentuate the price gap, but also to hide the price increases on the more expensive brands behind the excise increases.
The persistent gap between list prices and net prices demonstrates that it is not beneficial to focus on list price increases or announcements.
Price increases remained tame.
The price increases were widespread.
Consumers complain about price increases.
The price increases thereafter.
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CEO of Professional Science Editing for Scientists @ prosciediting.com