Tech Giant Apple has increased the cost of apps for its iOS running iPhone and iPad devices by an average rate of 17.5 per cent.

The company cited fluctuations in exchange rates between the dollar and other currencies as a key reason for the price bump.

This means that the minimum price for an app will increase from 59p to 69p. Other apps which sell for above the minimum rate have also seen a price increase with some of the top-end apps increasing in cost by as much as 20 per cent.

The news comes just as Switzerland, Australia and Japan have all seen a reduction in the cost of apps in Apples App Store.