Apple hikes UK App Store prices by 25 percent post-Brexit

The financial turbulence that followed the UK's vote to leave the European Union has seen the value of the pound tumbling. With the pound and the dollar almost reaching parity, Apple has again been forced to increase prices.

While the US and UK currencies may not quite have reached parity, the price of apps in the two regions will very soon do just that. Apps that cost $0.99 in the US would have cost £0.79 in the UK pre-Brexit -- now this will jump to £0.99. Information about the price hike came in an email to developers, and it will take effect over the next seven days.

This is not the first time Apple has increased its prices because of the Brexit vote. Back in October, the new range of Macs launched along with a 20 percent price increase. But the decision to increase app prices affects a far greater number of people, and it's a move that is unlikely to be well-received.

Apple's email to developers explains that "when foreign exchange rates or taxation changes, we sometimes need to update prices on the App Store".

In a statement, the company said:

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.

While not yet announced, it is highly likely that similar price increases will be introduced to the iTunes and iBooks stores. So if you have been thinking about buying an app, now is the time to do so -- do it now and beat the price hike!

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