PS5 Receives Price Hike In Select Markets Due To Global Inflation

Sony Interactive Entertainment has announced that it is increasing the price of the PS5 in select markets due to the global economic environment, which includes high inflation rates.

Based on these challenging economic conditions, the console maker has made the decision to increase the recommended retail price (RRP) of PS5 in select markets across Europe, Middle East, and Africa (EMEA), Asia-Pacific (APAC), Latin America (LATAM), as well as Canada. There will be no price increase in the United States, however.

PS5 Price Hike Details

The new recommended retail prices stated below are effective immediately.

• 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

According to Sony Interactive Entertainment, this price increase is a necessity given the current global economic environment and its impact on its business. The company’s top priority right now is to continue to improve the PlayStation 5 supply situation so that as many players as possible are able to purchase the current-gen console.

Previously, we had reported that the PS5 supply situation in Japan had hit a new low, as a local retailer had resorted to only allowing existing PS4 owners to buy the new console. The retailer claimed that this was done as a countermeasure to an increasing trend of scalpers acquiring the console through fraudulent means via its online app. Whether these new measures are keeping scalpers at bay is anyone’s guess, but it certainly makes things more complicated for anyone genuinely interested in buying a PS5 for personal use.