Sony has recently announced that it will be increasing the price of the PlayStation 5 console across all major markets outside of the U.S, due to high global inflation rates.
The company said that the price of PlayStation 5 will increase in select markets across across Europe, Middle East, and Africa (EMEA), Asia-Pacific (APAC), Latin America (LATAM), as well as Canada.
A side note, per Sony, states: *Select markets in EMEA, APAC, and LATAM not listed above may also receive price increases. Please check with your local retailer.
Jim Ryan, president, and CEO of Sony Interactive Entertainment, said in a blog post that the company had made the “difficult decision” to hike the price of the console due to due to global economic environment, including high inflation rates.
“The global economic environment is a challenge that many of you around the world are no doubt experiencing. We’re seeing high global inflation rates, as well as adverse currency trends, impacting consumers and creating pressure on many industries. Based on these challenging economic conditions, SIE has made the difficult decision to increase the recommended retail price (RRP) of PlayStation 5 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”.
He adds “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.”