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Sony hikes the price of its PlayStation 5 console because of soaring inflation

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In this photo illustration a PlayStation 5 logo seen displayed on a smartphone.
Mateusz Slodkowski | SOPA Images | LightRocket via Getty Images

Sony on Thursday raised the recommended retail price of its PlayStation 5 games console in several international markets citing the global economic environment, including high inflation.

The Japanese gaming giant said that the price hikes are effective immediately except in Japan where they will begin on Sep. 15.

Sony is not raising the price of the PS5 in the U.S.

“The global economic environment is a challenge that many of you around the world are no doubt experiencing,” Sony said in a blog post on Thursday. “We’re seeing high global inflation rates, as well as adverse currency trends, impacting consumers and creating pressure on many industries.”

The company said that “based on these challenging economic conditions,” it has decided to raise the price of its flagship console.

These are the hikes and new prices for the PS5:

Europe: 50 euro ($50) increase to 549.99 euros for the disc version and 449.99 euros for the digital versionUK: ?30 increase to ?479.99 for the disc version and ?399.99 for the digital modelJapan: 5000 yen increase to 54,980 yen for the disc version and 44,980 yen for the digital modelChina: 400 yuan increase to 4,299 yuan for the disc version and 3,499 yuan for the digital modelAustralia: 50 Australian dollar increase to 799.95 Australian dollars for the disc version and 649.95 Australian dollars for the digital modelMexico: 1,000 Mexican pesos increased to 14,999 Mexican pesos for the disc version and 12,499 Mexican pesos for the digital modelCanada: 20 Canadian dollars increase to 649.99 Canadian dollars for the disc version and 519.99 Canadian dollars for the digital model

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