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iTunes Music Prices To Rise Due To Brexit
Christian Eede , January 17th, 2017 12:14

25% price increases blamed on UK's vote to leave the EU

With the collapse of the pound, in the wake of the UK's decision to vote in favour of Brexit, prices are set to rise by 25% on Mac and iOS apps from the UK App Store, with similar increases set to follow on music downloads from the iTunes Store also.

As The Guardian reports, Apple revealed the increases in an email sent out to app developers today saying: "when foreign exchange rates or taxation changes, we sometimes need to update prices on the App Store".

In a further statement, Apple 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."

The value of the pound against the dollar has fallen by 18.5% since the UK's vote to leave the European Union following a referendum last June.