Sony has confirmed a major PS5 price increase in Australia, other regions

If you’re one of the unlucky few who’ve yet to nab a PS5, there’s bad news on the horizon. In a new blog post, Sony has confirmed that due to the state of the global economy, inflation rates, manufacturing costs and shipping, the PS5 will now increase in price around the world. In Australia, for example, the console will cost AU $50 more – effective immediately. If you haven’t bought a console yet, you’re now out of luck.

‘The global economic environment is a challenge that many of you around the world are no doubt experiencing,’ Jim Ryan, President and SEO of Sony Interactive Entertainment said in the blog post.

‘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.’

According to Ryan, there will be no equivalent price increase in the United States – although the reason for this exception is currently unclear.

Read: The key takeaways from the FY21 PlayStation financial report

Here’s what you can expect to pay for the PS5 going forward:

• Australia: AU $799.95 (Disc); AU $649.95 (Digital)
• Europe: €549.99 (Disc); € 449.99 (Digital)
• UK: £479.99 (Disc); £389.99 (Digital)
• Japan (from 15 September): ¥60,478 yen (Disc) ; ¥49,478 yen (Digital)
• China: ¥4,299 yuan (Disc); ¥3,499 yuan (Digital)
• Mexico: MXN $14,999 (Disc); MXN $12,499 (Digital)
• Canada: CAD $649.99 (Disc); CAD $519.99 (Digital)

While Sony has promised to improve the PS5 supply situation so that ‘as many players as possible can experience everything that PS5 offers and what’s to come,’ this will likely ring hollow for those who’ve been saving for the console, and hoping for new stock.

The price increase is a necessity as the global market dips, but it’s disappointing to see the cost of these challenges being passed onto consumers who’ve already waiting nearly two years to get their hands on the console.

In response to this change, Microsoft has spoken out, and confirmed the Xbox Series X and Series S will not receive price increases. Nintendo also recently promised similar for the Nintendo Switch, confirming it has no current plans to increase the price of the console as of early August.

The fallout of this decision is not currently clear, but plenty of PlayStation fans are already taking to social media to voice their disappointment.