Like petroleum, bread and butter, the apps in Apple’s App Store too will see a price increase in the coming days. This was confirmed by Apple earlier today when the Cupertino-based company claims that it is implementing a blanket price increase on the App Store in the EU and Canada.
In detail, the price increase will involve the App Store on every European country except for Russia and Iceland. Instead, the prices will remain the same for the former while the prices of apps will drop for the latter.
Apple added that the price hike will begin this Friday at 11am and is implemented to comply with the new EU policy that requires the company to deduct VAT based on its rates at the customer’s location, rather than the company’s.
Following the price hike, developers can put their apps based on the recommended pricing groups that consist of EU0.99, EU1.17 and £1.04. In terms of USD, this translates to a new minimum price of $2.25 and $2.12.
This is considered a phenomenon as nobody anticipated the App Store prices to be pegged to the local currency. Whenever currency devaluates, it will spark a price hike in the App Store.