PlayStation 5 price hikes are making the console harder to come by

SONY has announced that the PlayStation 5 will increase in price starting today due to high inflation rates.

Stocks for Sony’s latest console are limited, meaning many consumers hoping to pick one up are still empty-handed nearly two years after launch.

Consumers are still struggling to get their hands on one.

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Consumers are still struggling to get their hands on one.Photo credit: Getty

in one blog entrySony Interactive Entertainment (SIE) CEO Jim Ryan wrote of the surge.

In a statement, he explains how the price change will affect the majority of non-US regions.

This is an unusual move by the company, as console prices typically drop years after launch to boost sales.

The last time this happened in the UK was in 2009 during the recession.

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Nintendo raised the price of the Wii by £20 after the pound fell.

Ryan blames the current global economic crisis for Sony’s decision to increase the price of the console.

He wrote: “The global economic environment is a challenge that many of you around the world are undoubtedly experiencing.

“We are seeing high global inflation rates as well as unfavorable currency trends impacting consumers and putting pressure on many industries.

“Due to these difficult economic conditions, SIE has made the difficult decision to increase the PlayStation 5’s suggested retail price.”

In the UK, both disc-based and digital consoles are getting a price increase of up to 9%.

The more expensive disc-based console will go from £449.99 to £479.99, an increase of £30.

The PS5 digital-only version will also be £30 up – from £359.99 to £389.99 – but as the price is lower it makes a bigger jump overall.

This will come as a blow to gamers who are struggling to get their hands on the console despite trying to purchase one since its release.

The only way to buy a PS5 in the UK without waiting for stock to be returned is on the used market, where prices are often over £100 over retail.

Written by Georgina Young on behalf of GOOD LUCK AND HAVE FUN.

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https://www.thesun.ie/tech/9304657/playstation-5-price-increase/ PlayStation 5 price hikes are making the console harder to come by

Fry Electronics Team

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