Unprepared British consumers face price squeeze

London

BRITISH shoppers tempted by Apple's new iPhone are having to dig deeper into their pockets in these post-Brexit-vote days: the US tech giant raised the sterling price of the smartphone by 60 pounds (S$105) when the model went on sale in mid- September.

While US customers will pay the same as last year, the 11 per cent price rise for Britons from the previous model almost exactly matches the amount by which the pound had fallen against the dollar since the June vote to leave the European Union.