Microsoft to introduce UK price hikes on enterprise products

US tech giant Microsoft is the latest company to raise its prices in Britain as a result of the fall in value of the pound in the aftermath of Brexit.

The company's enterprise and cloud software will rise by as much as 22% to adjust for the depreciating value of sterling since the June referendum.

From the beginning of 2017, enterprise software will receive an added 13% to its price, with cloud services being hit the most with an increase of 22%.

Microsoft said that the move was an attempt to realign euro-based contracts in order to offset the falling value of the pound, which has slumped to 1.12 against the euro.

"Effective January 1, 2017, we will be increasing British pound pricing to harmonise prices for enterprise software and cloud services within the EU/EFTA region," a statement from Microsoft said.

The company played down the price rise however, commenting that it was similar to routine adjustments it has made previously for other currencies.

"We periodically assess the impact of local pricing of our products and services...these changes are similar to the recent harmonisation adjustments to pricing in Norwegian krone and Swiss franc we made in April 2016."

Uncertainty surrounding what a post-Brexit Britain will look like has fuelled the pound's demise, as Teresa May's government grapples with the debate on what direction the country should go.