Actually, no. What happens: The Brits usually translate their Pound based prices to US prices, forgetting that US prices don't include VAT, and they moan. When the British Pound goes up, and the British price is unchanged, they see this as "price is going up" even though nobody is ever charged US dollars in Britain. If the UK price goes down to adjust for the good exchange rate, they don't notice it because "price in dollars stayed the same". But when the pound goes down, and UK prices are not changed, nobody looks at the US price. And if UK prices are adjusted up as a result, nobody says "price in dollars stayed the same", they all say that the UK price went up.