Microsoft hikes U.K. enterprise pricing by up to 22% as pound plummets post-Brexit

Microsoft has announced that it’s increasing pricing on some of its products in the U.K. by more than 20 percent, as the British pound continues to suffer in the wake of Brexit.

Beginning January 1, 2017, Microsoft has revealed that “most” of its enterprise cloud services will see an increase of 22 percent to “realign close to euro levels,” while its enterprise software will see an increase of 13 percent. “We periodically assess the impact of local pricing of our products and services to ensure there is reasonable alignment across the region, and this change is an outcome of this assessment,” explained Microsoft’s Sergejs Cuhrajs, in a blog post. “These changes are similar to the recent harmonization adjustments to pricing in Norwegian krone and Swiss franc we made in April 2016.”

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It’s worth noting here that businesses that operate in additional currencies — including the euro, Swiss franc, Danish krone, and Swedish krona — will still be able to pay using those currencies. Also, Microsoft is quick to point out that it isn’t increasing the prices for its consumer cloud or software products — a sign, perhaps, that it’s striving to remain competitive against the likes of Google, which has yet to reveal any pricing changes post-Brexit.

The U.K.’s vote to leave the European Union on June 24 has wreaked havoc with sterling’s value against the dollar, leading to product price-hikes from many companies, including OnePlus, Dell, and HP. Apple recently increased its U.K. prices following the launch of its latest flagship phone, while supermarket giant Tesco removed some popular items from its online store after Unilever increased prices due to the falling value of the pound.