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Following Brexit vote, Apple is raising App Store prices by 25% in the U.K.

on January 18, 2017, 11:20am

If you were wondering how that whole Brexit thing is going, the answer is “not great, Bob.”

The Guardian reports that Apple is raising prices on its U.K. App Store by almost 25%, a likely consequence of the country leaving the European Union. Following a 25% depreciation of the pound, apps that once cost £0.79 will now cost £0.99. Similar price hikes are expected to hit other Apple stores, including iTunes for music and movie purchases.

Apple broke the news to app developers in an email on Tuesday; they didn’t cite Brexit specifically, but said “when foreign exchange rates or taxation changes, we sometimes need to update prices on the App Store.”

The good news is that the price rise won’t roll out for seven more days. The bad news is that, since the Brexit vote last June, the value of the pound has dropped by 18.5% against the U.S. dollar. Better start hoarding those ha’pennies.

On the plus side, Britain’s new five-pound note can play vinyl records.