Japan Tobacco International expects a shift towards cheaper cigarette brands in the United States to reach more than 40% of the market by 2027, its finance chief told Reuters. U.S. smokers have been swapping out brands such as Altria's Marlboro and British American Tobacco's (BAT) Newport, which have been raising prices for years, for less expensive brands as high inflation and interest rates stretch their wallets. BAT's U.S. cigarette volumes fell 10.1% last year in part due to this shift, it reported on Thursday, while Altria has also been losing market share.