Thanks to the PS5's second price hike in less than 3 years, the console is now more expensive than a Nintendo Switch 2 in multiple regions

The cost of certain PS5 models is once again increasing in many parts of the world as Sony announces what is, for many countries, a second price hike for its current-gen console.

Announced yesterday (April 13), Sony confirmed in a blog post that it's "made the tough decision to raise the recommended retail price (RRP) of the PlayStation 5 console in select markets in Europe, Middle East and Africa (EMEA), Australia and New Zealand," pointing to the "backdrop of a challenging economic environment, including high inflation and fluctuating exchange rates" as the reasons why.

Specifically, the Digital Edition PS5 is getting more expensive in Europe, the UK, Australia, and New Zealand, while the Standard version with the built-in disc drive will see a price increase in Australia and New Zealand. "Select markets in EMEA not listed above may also receive RRP increases," Sony adds.

As of today in the UK, the Digital Edition console costs £429.99, up by £40 from the previous £389.99 price. This had already gone up once from its launch price of £359.99. The same console now costs €499.99 in Europe (an increase of €50), AUD $749.95 in Australia (a significant AUD $100 increase), and NZD $859.95 in New Zealand. Meanwhile, the Standard consoles now cost AUD $829.95 and NZD $949.95 in Australia and New Zealand, respectively.

This comes at a time when many people have been begging Nintendo to "drop the price" of its upcoming Switch 2 console. While the Digital Edition PS5 was previously slightly cheaper than Nintendo's new console in the UK (which retails at £395), this latest price hike makes the Switch's successor the more affordable option between the two. The Switch 2 is now also the cheaper option in Australia, where it's set to cost AUD $699, and European countries like Germany and Spain, where it's €469.99.

Needless to say, it's not fantastic news for anyone who didn't already own a PS5 in these regions. At least Sony is slightly offsetting the increased price of the Digital Edition consoles with the new cost of the add-on Disc Drive (which lets you use physical games on the digital-only console), which has decreased. In the UK, it's £30 cheaper at £69.99, and €40 cheaper in Europe at €79.99. It's also AUD $124.95 in Australia and NZD $139.95 in New Zealand.

It was only in 2022 that the price of PS5 consoles was increased in multiple markets, including Europe, the UK, Mexico, Canada, Australia, Japan, and China. At the time, the United States remained unscathed, and the country has escaped a price hike yet again today, despite concerns from fans last week after Sony took a bigger hit than Nintendo after US tariffs affected the Japanese stock market.

While you're here, be sure to check out our roundup of the best PS5 games you can play now.