Brexit pound plunge pumps up Sonos speaker prices

Music lovers face paying more to listen to their favourite tunes at home after US speaker maker Sonos said it would hike UK prices by up to 25% following the post-referendum slump in the pound.

The US firm follows the likes of Microsoft (Euronext: MSF.NX - news) and Apple (NasdaqGS: AAPL - news) in announcing a price hike in Britain after last June's Brexit vote sent the value of sterling down by 17% against the dollar.

Sonos said the price changes, which include its flagship Play line of speakers, would come into effect on 23 February.

The company said: "We pay for everything we make in US dollars.

"Over recent months, there has been a significant change on the US dollar to GBP [GB pounds] exchange rate.

"As a result, our existing pricing has become unsustainable and, like many other companies, we have to increase prices for all products priced in GBP."

The change will see the Sonos Play:1 speaker rise from £169 to £199, the Play:3 increase from £259 to £299 and the Play:5 from £429 to £499.

The company's Connect:Amp will receive the full 25% increase, with its price rising from £399 to £499, Sonos said.

Last month Apple confirmed it would be raising the download prices in its App Store in the UK by 25%

In October Microsoft also announced price increases for some of its software services in the UK triggered by the drop in value of the pound.

Supermarket prices are also turning higher because the weakness of the pound makes imported goods more expensive.

Last week, home ware retailer Dunelm said the fall in sterling would mean price rises of around 5% on tens of thousands of products.

There have also been warnings about the cost of buying clothes and cars .

The Sonos announcement comes a day ahead of inflation figures expected to show a further increase in the rise in the cost of living.