Apple App Store prices are set for increase as currencies weaken in comparison to the strong US dollar. Apple has claimed that starting from next month App Store prices would be raised in selected Asian and European markets. Starting on October 5th, the price increases will apply to both standard apps and in-app purchases within the App Store.
Countries like Sweden, South Korea, Chile, Egypt, Malaysia, Pakistan, Vietnam, and Japan are about to be hit by the price hike Apple is introducing. The price increases will have an impact on all nations that use the Euro. Next month when the new App Store prices kick in, all Euro markets— except Montenegro—will see a 20 per cent increase in the base app price from €0.99 to €1.19 per download. The increases include over 30% in Japan, where the yen has fallen to a fresh 24-year low compared to the dollar.
Apple hasn’t specifically stated reasons for the prices increase, however, given that the euro and yen are under pressure from a strong dollar, it is obvious that currency changes, which have been influenced by inflation and growing energy costs, are to blame. According to a report shared by Reuters, Apple adjusted App Store prices from €1.09 app fee to €0.99 last year in order to account for fluctuations in currencies.
The update on the new App Store price increases rolls out shortly after Apple increased the cost of its new iPhone 14 and Apple Watch Series 8 models in selected international markets. In comparison to the iPhone 13, which had a starting price of £779 last year, the iPhone 14 now starts at £849. Ireland’s iPhone price has increased from €909 to €1,019, and similar price increases can be found in various parts of Europe. The strong US currency, according to analysts, is to blame for the new prices.