London, England – Sony has announced a significant price increase for its PlayStation 5 console in various regions, including Europe, Australia, and New Zealand. The company cited a “challenging economic environment” as the reason behind this decision.

In Europe, the price of the PS5 Digital Edition has been raised to 499.99 euros, up from the previous price of 449.99 euros. The recommended retail price in the UK has also increased to £429.99 from £389.99. However, there is no change in price for the PS5 with the HD Blu-ray disk drive in these regions, nor for the upgraded PS5 Pro model.

The decision to raise prices was described by Sony as a “tough choice” made in response to economic challenges such as high inflation and fluctuating exchange rates. With global financial markets experiencing volatility due to recent trade policy decisions, analysts predict that price hikes may extend to other regions, including the United States.

Serkan Toto, CEO of Tokyo-based games consultancy Kantan Games, expressed his expectation that Sony may eventually increase prices in the US as well. He noted that the current economic climate may provide an opportune moment for the company to adjust pricing, minimizing potential backlash from consumers.

This is not the first time Sony has raised prices for the PlayStation 5 since its launch over four years ago. Previous price hikes have been implemented in various countries and regions, including Japan. The gaming industry continues to monitor these developments closely as Sony navigates the challenges of a changing economic landscape.