Sony has announced that it will be raising the suggested retail price of its PlayStation 5 (PS5) as global inflation rates cause increases in the cost of raw materials.
The company says it will be implementing this across all regions except the United States. In other words, you may end up paying more for your PlayStation 5 than you anticipated.
Sony Interactive Entertainment (SIE) CEO, Jim Ryan, identified “high global inflation rates” as one of the reasons for the price hike across the globe. The full statement and list of new prices are as seen below:
“The global economic environment is a challenge that many of you around the world are no doubt experiencing. We’re seeing high global inflation rates, as well as adverse currency trends, impacting consumers and creating pressure on many industries.
Based on these challenging economic conditions, SIE has made the difficult decision to increase the recommended retail price (RRP) of PlayStation 5 in select markets across Europe, the Middle East, and Africa (EMEA), Asia-Pacific (APAC), and Latin America (LATAM), as well as Canada. There will be no price increase in the United States.
The new RRPs below are effective immediately unless otherwise noted.*
Europe
PS5 with Ultra HD Blu-ray disc drive – €549.99
PS5 Digital Edition – €449.99
UK
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)
China
PS5 with Ultra HD Blu-ray disc drive – ¥4,299 yuan
PS5 Digital Edition – ¥3,499 yuan
Australia
PS5 with Ultra HD Blu-ray disc drive – AUD $799.95
PS5 Digital Edition – AUD $649.95
Mexico
PS5 with Ultra HD Blu-ray disc drive – MXN $14,999
PS5 Digital Edition – MXN $12,499
Canada
PS5 with Ultra HD Blu-ray disc drive – CAD $649.99
PS5 Digital Edition – CAD $519.99
While this price increase is a necessity given the current global economic environment and its impact on SIE’s business, our top priority continues to be improving the PlayStation 5 supply situation so that as many players as possible can experience everything that PlayStation 5 offers and what’s still to come.
Thank you for your continued support.”
Although price changes for Africa weren’t included in the list, Sony advises checking with local retailers for any changes in price. Sony didn’t mention anything about the PS4 and PSVR getting any price increases. This is good news for gamers who were on the fence about purchasing a new console.
Sony has sold over 1 million PS5s globally since launch, which is roughly half as many units as Nintendo sold with its next-gen console (the Switch) during its first month on sale.
Sony is the first to announce a retail price increase for its PlayStation 5 console, but it’s unlikely to be the last.