PS5 and PS5 Digital Edition prices hiked in Europe, Australia, Canada and a few other regions ↺
It has been virtually impossible (and still is in some regions) to purchase a current-generation console at MSRP. While the global supply chain issues are mostly resolved, one would still be hard-pressed to get their hands on a PS5 or Xbox Series S|X. Sony has now added salt to everyone's collective wounds by jacking up the PS5's price in select region.
Sony cites "high global inflation rates, as well as adverse currency trends" as the reason for the said price change. Some of the places where the PS5 and PS5 Digital Edition will get costlier include Europe, China, Japan, Australia, Mexico and Canada. The price increase is effective immediately, except for in Japan, when it goes into effect on September 15. Refer to the attached image for the revised prices in each region.
Interestingly enough, the United States will remain unaffected by the PS5 price hike, for some reason. While it could be in the cards at a later date, Sony will probably hold off on it until the last moment, as it risks losing market share to Xbox, which, according to many, offers better value because of Game Pass.
A global price increase will eventually result in the PS5 becoming dearer in regions such as Asia, Africa, the Middle East and South America. Consoles already cost an arm and a leg in these places, and a price hike will only make them more inaccessible, further hurting Sony's prospects and opening up the door for consoles like the Xbox Series S.