Brexit leads to iOS App Store price jump

Apple raising prices by just under 25% to account for pound's depreciation since vote to leave the EU

By James Batchelor.Published Tuesday 17th January 2017, 12:37pm GMT

Apple has revealed that prices on the UK version of its App Store will be raised to compensate for the growing difference between the pound and the dollar - the result of last year's referendum.

Following the UK's vote to leave the European Union, the pound has depreciated greatly, falling by 18.5% against the US dollar. In order to ensure parity between the US and UK, Apple is raising app prices by almost 25%, The Guardian reports. iTunes' stores for music, video and books will also see similar increases.

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As a low-end example, apps that previously cost 79p will now cost 99p in order to better match a 99 cents price tag in the UK. These new prices will roll out over the next week.

The price jump was first revealed to developers via email, explaining that "when foreign exchange rates or taxation changes, we sometimes need to update prices on the App Store".

Apple also released the following statement: "Price tiers on the App Store are set internationally on the basis of several factors, including currency exchange rates, business practices, taxes and the cost of doing business. These factors vary from region to region and over time."

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The UK is not alone in this. Service tax changes have led to price increases in India, while the depreciation of the Turkish Lira will see that nation face higher prices too.

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