The PS5 is seeing a price increase around the world, with the exception of America.
Announced just earlier today on August 25, Sony revealed the price of the PS5 would be increasing due to the "global economic environment, including high inflation rates." Both models of the PS5 will now have their base price points increased around the world with immediate effect, which will be reflected at retailers around the world.
This means the PS5 now costs £479.99 in the UK for the base model, while the All-Digital version retails for £389.99. The former now costs CAD $649.99 in Canada and the latter retails for CAD $519.99, while the PS5 costs AUD $799.95 in Australia, and the digital version costs AUD $649.95.
"While this price increase is a necessity given the current global economic environment and its impact on SIE’s business, 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," PlayStation CEO Jim Ryan writes in the new announcement on the PlayStation Blog.
The PlayStation Blog post notes that were won't be any price increase for the PS5 in America, but declines to mention why. Ryan specifically points to the "high global inflation rates, as well as adverse currency trends" as the chief factors for the price increase of the new-gen console, suggesting that the relative strength of the US Dollar over the summer could have protected American users from the hike.
Check out our full upcoming PS5 games guide for a complete look over all the games still to launch for the new-gen console throughout this year and 2023.