Seems like the ol’ market price adjustment might have hit Apple’s iTunes store.

The company announced Wednesday it dropped the price of its higher-quality, digital rights management-free tracks sold through as iTunes Plus downloads at its online store from $1.29 to 99 cents and expanded the catalog to more than 2 million songs.

That’s good news for Apple loyalists who may not want to head over to Amazon.com to check out its recently unveiled MP3 store that features all DRM-free tracks selling for 89 and 99 cents each.

Apple’s current selection of EMI’s music catalog features 256-kbps bitrate files, double the quality of the usual 128-kbps downloads. No word on whether the additional selections from some independent labels will be 128 or 256 kbps.

Guess we’ll just have to browse the store.

Arlen Schweiger - Managing editor of Electronic House Magazine

Arlen contributes product news items to electronichouse.com along with his role on the print publication. Got a tip? Send it along!