Sony is raising the price of the PlayStation 5 (PS5) in select markets due to high inflation rates and adverse currency trends. The price increase is effective immediately in Europe, Asia and Latin America, with the price remaining unchanged in the United States. It is not clear how the price increases will affect consumers in the United States.
The decision is a big misstep for Sony. It is unlikely the company would have made this decision lightly. The cost of everyday items has increased dramatically over the past few years, including gaming consoles. Gamers need their gaming consoles to be affordable, and this decision could result in fans flocking to cheaper platforms.
PlayStation 5 prices will remain the same in the United States and select markets in Canada, Europe and Australia, but will increase in Japan and China. The PlayStation 5 price hike is due to the current economic climate, with the current global economic situation cited as the primary factor. PlayStation lead and Sony Interactive Entertainment CEO Jim Ryan announced the news in a blog post published on August 25, 2022.
The new RRPs below are effective immediately unless otherwise noted.*
- PS5 with Ultra HD Blu-ray disc drive – €549.99
- PS5 Digital Edition – €449.99
- PS5 with Ultra HD Blu-ray disc drive – £479.99
- PS5 Digital Edition – £389.99
- Japan (effective Sept. 15, 2022)
- PS5 with Ultra HD Blu-ray disc drive – ¥60,478 yen (including tax)
- PS5 Digital Edition – ¥49,478 yen (including tax)
- PS5 with Ultra HD Blu-ray disc drive – ¥4,299 yuan
- PS5 Digital Edition – ¥3,499 yuan
- PS5 with Ultra HD Blu-ray disc drive – AUD $799.95
- PS5 Digital Edition – AUD $649.95
- PS5 with Ultra HD Blu-ray disc drive – MXN $14,999
- PS5 Digital Edition – MXN $12,499
- PS5 with Ultra HD Blu-ray disc drive – CAD $649.99
- PS5 Digital Edition – CAD $519.99
Sony has been having a hard time meeting demand for the PS5 due to component shortages and supply chain problems. It has had to raise the price of the console due to shortages of certain components.