Apple will hike App Store prices across Europe and parts of Asia next month

Apple says it will increase App Store prices across Europe and some Asian markets next month as currencies weaken against a stronger US dollar. The price hike will affect both in-app purchases and regular apps on the App Store starting October 5.

All countries using the euro, Sweden, South Korea, Chile, Egypt, Malaysia, Pakistan, Vietnam and Japan will be affected by the price hike. In all euro markets except Montenegro, the €0.99 app price will increase to €1.19 next month, a 20 percent jump. The Japanese yen rose more than 30 percent, falling to a 24-year low against the US dollar.

Apple hasn't elaborated on why prices are rising, but with the euro and yen struggling against a stronger dollar, it's clear that this is driven by currency volatility driven by inflation and rising energy costs. . , Reuters reports that Apple periodically adjusts its App Store price to account for currency fluctuations, and has actually reduced the base €1.09 app price to €0.99 last year.

Apple raised the prices of its new iPhone 14 and Apple Watch Series 8 models in several markets outside the US just weeks after the App Store price change. The iPhone 14 now starts at £849 in the UK, while the iPhone 13 last year started at £779. The price of the iPhone has gone up from €909 to €1,019 in Ireland, and similar price jumps can be found across Europe. Analysts peg the price hike to a similar story: a stronger US dollar.