Drinkers, smokers seek respite from gloom by trading up

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Reuters UK

By Richa Naidu LONDON (Reuters) – Soaring inflation has made life harder for most of the World – but some people are still smoking expensive cigarettes and doing shots of fancy tequila. From British American Tobacco to Tanqueray gin maker Diageo, cigarette and alcohol companies cited strong demand for high-end products people can’t seem to shake when they reported results this week. Far from buying cheaper alcohol and tobacco, shoppers are instead trading up. “In hard times, I think people just want that little moment to celebrate, you know, to unwind with family, with friends with colleagues,…

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