Philip Morris Raises Prices on 22 Brands

Altria Group Inc.’s Philip Morris USA is raising prices 10 cents a pack on 22 brands including Benson & Hedges and Chesterfield, its first list-price increase since April 2002.

The move by Philip Morris, the largest U.S. cigarette maker, is effective Sunday, a spokeswoman said. It comes a month after the Richmond, Va.-based tobacco company reduced discounts to dealers on top-selling Marlboro, Basic, Parliament and Virginia Slims by 10 cents a pack to 55 cents, effectively lifting prices on those brands.

Shares of New York-based Altria rose $1.05 to $63.35 on the NYSE.