With rising inflation around the world, people are seeing hikes in house prices, energy bills, as well as just the general cost of living and now Sony, has announced it's increasing the price of their PS5 console - except in the US.

Those in Europe will see a 10 per cent price rise, while it will be 21 per cent in Japan, and six per cent in the UK as Sony like many businesses have been affected by the soaring inflation rates.

The price hike is effective immediately, except in Japan where the price will increase on September 15.

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We’re seeing high global inflation rates, as well as adverse currency trends, impacting consumers and creating pressure on many industries, said 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 across Europe, Middle East, and Africa (EMEA), Asia-Pacific (APAC), Latin America (LATAM), as well as Canada.

Here is a list of the breakdown below of how much PS5 consoles will increase according to each country:

• Europe
  • PS5 with Ultra HD Blu-ray disc drive – €549.99 (previously €499.99)
  • PS5 Digital Edition – €449.99 (previously €399.99)

• UK
  • PS5 with Ultra HD Blu-ray disc drive – £479.99 (previously £449.99)
  • PS5 Digital Edition – £389.99 (previously £359.99)

• Japan (effective Sept. 15, 2022)
  • PS5 with Ultra HD Blu-ray disc drive – ¥60,478 yen (including tax) (previously ¥49,980)
  • PS5 Digital Edition – ¥49,478 yen (including tax) (previously ¥39,980)

• China
  • PS5 with Ultra HD Blu-ray disc drive – ¥4,299 yuan (previously ¥3,899 yuan)
  • PS5 Digital Edition – ¥3,499 yuan (previously ¥3,099 yuan)

• Australia
  • PS5 with Ultra HD Blu-ray disc drive – AUD $799.95 (previously $749.95)
  • PS5 Digital Edition – AUD $649.95 (previously $599.95)

• Mexico
  • PS5 with Ultra HD Blu-ray disc drive – MXN $14,999 (previously MXN $13,999)
  • PS5 Digital Edition – MXN $12,499 (previously MXN $11,499)
• Canada
  • PS5 with Ultra HD Blu-ray disc drive – CAD $649.99 (previously $629.99)
  • PS5 Digital Edition – CAD $519.99 (previously $499.99)

The continued supply issues were also mentioned, as a key area for improvement.

“Our top priority continues to be improving the PS5 supply situation so that as many players as possible can experience everything that PS5 offers and what’s still to come, Ryan added.

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