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Apple Raising Prices in U.K. iTunes, App Store Because of Brexit

LONDON, ENGLAND - JUNE 25: A small group of people gather to protest on Parliament Square the day after the majority of the British public voted to leave the European Union on June 25, 2016 in London, England. The ramifications of the historic referendum yesterday that saw the United Kingdom vote to Leave the European Union are still being fully understood. The Labour leader, Jeremy Corbyn, who is under pressure from within his party to resign has blamed the 'Brexit' vote on 'powerlessness', 'austerity' and peoples fears over the issue of immigration. (Photo by Matt Cardy/Getty Images)

Legally downloading music will cost just a bit more in the United Kingdom beginning later this week, with Apple set to rise prices in its iTunes store due to the “sharp depreciation” of the British pound in the wake of Brexit. The company has not yet revealed how much the price of music will change in the country, but prices in its U.K. App Store are set to shoot up 25%, according to The Guardian.

According to Apple, the new prices will better fit the current exchange rate internationally. Per The Guardian, apps that cost $0.99 in America and which used to cost £0.79 in the U.K. will now be £0.99. Though Apple itself did not explicitly link the chance in prices to Brexit, a spokesperson told The Guardian that “when foreign exchange rates or taxation changes, we sometimes need to update prices on the App Store.”

New prices will be unveiled over the next week, though Apple has been adjusting prices on other products since the vote last June. Prices of new computers, for instance, were hiked 20%, which caused the cost of some products like the Mac Pro to leap by £500. Since Brexit, the pound has fallen by 18.5% against the US dollar—a helpful reminder to be careful what you wish for.