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The American technology company Apple Inc. announced today that it will raise the prices of applications and in-app purchases in its digital App Store from next month throughout the Eurozone and some other countries in Europe. Asia and South America, Reuters reported.

The new prices, excluding auto-renewing subscriptions, will take effect as early as October 5, the company said in a blog post.

The US tech giant periodically adjusts its prices in different regions and cut prices for eurozone countries last year to reflect currency and tax adjustments, cutting starting prices for many apps to 99 euro cents from 1.09 euros.

With the latest price increase, they will start at 1.19 euros.

A rapid rise in inflation, interest rates and energy prices this year has sent the yen, euro and most emerging market currencies down.

The euro has fallen to its lowest levels in two decades this year and has hovered around parity against the dollar for weeks, Reuters notes

Apart from the Eurozone countries, the price increases will affect Sweden and Poland in Europe;

Japan, Malaysia, Pakistan, South Korea and Vietnam in Asia;

and Chile in South America.

For some countries such as Vietnam, the price increase is due to new regulations related to collecting taxes from consumers, Apple said.

Apple is discontinuing iPod production after 20 years on the market

The company, which launched its latest generation of iPhones earlier this month, is developing its services business to reduce reliance on its flagship smartphones.

Revenue from Apple's services business, which includes the App Store, has grown rapidly over the past few years and now hovers around $20 billion per quarter.

Apple