Apple App Store prices are set to rise as currencies weaken compared to the strong US dollar. Apple has claimed that starting next month, App Store prices will increase in select Asian and European markets. Starting October 5th, 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 Apple’s price hikes. The price hike will have an impact on all countries that use the euro. Next month when the new App Store prices start, all euro markets – except for Montenegro – will see a 20 percent increase in the price of the base app from €0.99 to €1.19 per download. The increases include more than 30% in Japan, where the yen fell to a 24-year low compared to the dollar.
Apple did not specifically mention the reasons for the price hike, however, as the euro and the yen are under pressure from the strong dollar, it is clear that currency changes, affected by inflation and rising energy costs, are to blame. According to a report shared by Reuters, Apple revised App Store prices from €1.09 to €0.99 last year in order to account for fluctuations in currencies.
The update rolled out to the new App Store price increases shortly after Apple increased the cost of the new iPhone 14 and Apple Watch Series 8 models in select international markets. Compared to the iPhone 13, which had a starting price of £779 last year, the iPhone 14 now starts at £849. The price of the iPhone in Ireland has increased from €909 to €1019, and similar price increases can be found in different parts of Europe. A strong US currency, according to analysts, is responsible for the new rates.