Rumours running wild this morning claim Apple is set to slash iTunes Plus prices while bringing new independent labels into the DRM-free fold.

These rumours - which seem to emanate from a report on Ars Technica - claim some iTunes Plus tracks on the US iTunes service have already seen price cuts.

Checks across Apple's UK iTunes service have so far failed to uncover one iTunes Plus track at the widely purported new 79-pence per track price (or 99-cents in the US).

At its root, these rumours claim Apple has moved to slash iTunes Plus prices as part of its response to Amazon's recent move to offer DRM-free music at lower than iTunes Plus prices.

Reading between the lines of the original report, it's possible that new prices will be implemented during the week: "Apple plans to expand iTunes Plus to include certain indie music labels starting on Wednesday, 17 October," Ars Technica explains.