In the UK, Europe, Japan, China, Australia, Mexico, and Canada, Sony is raising the price of the PS5. As a result of inflation, prices are going up by 10% in Europe and around 6% in the UK. Sony is raising the cost of the PS5 in many parts of the world, but it says the price won't go up in the US. This is a problem for Sony and many other companies.
Jim Ryan, President and CEO of Sony Interactive Entertainment says that high global inflation rates and alarming currency trends are hurting consumers and putting pressure on many industries. "Due to the tough economy, SIE has made the hard decision to raise the recommended retail price (RRP) of PlayStation 5 in certain markets in Europe, the Middle East, and Africa (EMEA), Asia-Pacific (APAC), Latin America (LATAM), and Canada."
The new prices go into effect immediately, except for the increase in Japan, which won't happen until September 15th. Even though Sony is raising the cost of the PS5, there are still not enough of them in many markets. "Improving the PS5 supply situation is still our top priority," says Ryan. "We want as many players as possible to be able to enjoy everything the PS5 has to offer and what's still to come."
Below are the new PS5 prices.