Apple customers in the UK may be in for an unpleasant surprise this week, as the company is raising prices in its App Store to keep up with the declining value of the pound sterling.
Price hikes of approximately 25% across all pricing tiers were announced by the company today, expected to be deployed over the following week. Market uncertainty and a steadily depreciating pound were cited by Apple in this decision.
An app sold through the App Store for $0.99 in the US, the lowest pricing tier, has now hit pricing parity in the UK, being priced at £0.99, up from £0.79. Secondary tiers will see price tags of £1.99, up from £1.49. The entire pricing structure is similarly affected.
The UK’s currency has continued to fluctuate around its lowest values compared to the US dollar, just as Theresa May is preparing to give a lengthy speech on the country’s Brexit strategy on Tuesday. The speech is expected to include clear plans for leaving the EU single market, which will likely put further downwards pressure on the pound.
Apple’s price hike is also expected to hit books, movies, music, and all other content on iTunes and the App Store as well. The company has previously raised hardware prices in the UK following the country’s referendum vote to leave the EU last year.