Update: Want to gift an Xbox Series X or S this holiday season? Better buy it now.
At $500, the PS5 is a pricey piece of kit — assuming you can even get your hands on one. The good news is that Sony has promised not to increase that price in the U.S. The bad news is that the console will be getting more expensive in other territories.
According to Sony the price of buying a PS5 will be increasing in the U.K., Europe, Japan, China, Australia, Mexico and Canada. This move is all down to the fact the global economy is having a rough time, particularly with inflation.
So PS5 prices are increasing with immediate effect, except in Japan where it’s happening on September 15.
“We’re seeing high global inflation rates, as well as adverse currency trends, impacting consumers and creating pressure on many industries,” explained Jim Ryan, President and CEO of Sony Interactive Entertainment. “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."
Which is not great news for anyone hoping to pick up a PS5 in one of the affected regions. It’s also an unprecedented move to increase a console’s price almost two years into its lifecycle, as usually the opposite happens.
Of course, price drops are all reliant on Sony being able to manufacture enough PS5 units to meet demand, and the assumption that manufacturing gets easier and cheaper over time. Supply chain issues have rocked the electronics industry over the past two years, limiting console production, and now inflation appears to be making them more expensive to build.
While Sony made it clear a price increase is not planned for the United States, the fact it has increased prices elsewhere means it remains a possibility. I certainly hope that doesn’t happen, and I suspect most people would agree with me. Prices are bad enough without deliberately making the PS5 less accessible.
Sony’s blog post reiterated that Sony’s top priority is improving the supply of PS5 consoles. While Sony has been promising improvements to supply since launch, with mixed results. Consoles still sell out pretty quickly, but not as quickly as they once did.
These days a PS5 restock can hang around for several hours, rather than selling out in minutes. But it’s not like you can visit up your favorite retailer and buy a console whenever you feel like it. The sooner Sony can sort that situation out, the better.
Here’s how much prices are rising across the world.
- PS5 with disc drive – was £449.99 now £479.99 (6.6% increase)
- PS5 Digital Edition – was £359.99 now £389.99 (8.3% increase)
- PS5 with disc drive – was €499.99 now €549.99 (10% increase)
- PS5 Digital Edition – was €399.99 now €449.99 (12.5% increase)
Japan (effective September 15):
- PS5 with disc drive – was ¥49,980 now ¥60,478 yen (21% increase)
- PS5 Digital Edition – was ¥39,980 now ¥49,478 yen (23.7% increase)
- PS5 with disc drive – was ¥3,899 yuan now ¥4,299 yuan (10.2% increase)
- PS5 Digital Edition – was ¥3,099 yuan now ¥3,499 yuan (12.9% increase)
- PS5 with disc drive – was AUD $749.95 now AUD $799.95 (6.7% increase)
- PS5 Digital Edition – was AUD $599.95 now AUD $649.95 (8.3% increase)
- PS5 with disc drive – was MXN $13,999 now MXN $14,999 (7.1% increase)
- PS5 Digital Edition – was MXN $11,499 now MXN $12,499 (8.7% increase)
- PS5 with disc drive – was CAD $629.99 now CAD $649.99 (3.2% increase)
- PS5 Digital Edition – was CAD $499.99 now CAD $519.99 (4% increase)
Next: The PS5 price hike is part of a worrying trend.