We've become all too familiar with price hikes for PC parts (opens in new tab) these past few years, but sadly now it's our console cousins' turn. Sony has announced that the price of a PlayStation 5 will increase in most regions worldwide, either immediately or imminently, though the US isn't affected.
Updated PS5 prices worldwide
- 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
For the UK market, that's an increase of £30; in Australia, around $50 AUD; in Canada, that's another $30 CAD to pay.
What's missing is the United States, which has avoided any price increase for the time being, leaving the Digital Edition at $400 and the disc version at $500. That's interesting in that the US is suffering from high rates of inflation currently, though these are perhaps steadying, but which may also signify that other factors are contributing to the rise in prices elsewhere.
"We’re seeing high global inflation rates," Sony says (opens in new tab), "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…"
Sony's price increase comes at a time when inflation is soaring in many markets, with the knock-on effect of causing some companies to increase their prices. One important marker you can look at for this is the humble McDonald's cheeseburger.
Yes, a burger is something of a portent of price increases to come.
Having been priced at 99p, and staying that price for 14 years, McDonald's UK and Ireland have decided to increase its price to £1.19. It's worth noting that the UK has been hit especially hard by rising inflation and is forecast to continue on an upward trend.
So everything from burgers to consoles are feeling the brunt of today's unfavourable market conditions. Major tech firms we rely on heavily for our gaming components are also feeling the strain: Intel and Nvidia have posted some less than favourable financial reports for this past quarter. Unlike Sony, Nvidia has recently said it is working to drop prices for its graphics cards, though it is dealing with an entirely different issue. Nvidia and its partners have far too many graphics cards, while Sony can't make enough PS5 consoles.
Sony at least has this glimpse of positivity on PS5 supply: "our top priority continues to be improving the PS5 supply situation so that as many players as possible can experience everything that PS5 offers."
So there's that. Though it doesn't feel like recompense enough for the price hikes when people are struggling with money as much as they already are today.
Sony reported an operating income of 307 billion yen in the first three months of 2022, a 5% increase over the same period in 2021. Gaming revenue was, however, down 11.7% year over year.