Sony increases the cost of PlayStation 5

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Sony is taking the unprecedented step of boosting the price of its current-generation console, the PlayStation 5, nearly two years into the PlayStation 5's existence.

Jim Ryan, president and CEO of Sony Interactive Entertainment, announced on Thursday that the business will increase the retail price of the PS5 in

High worldwide inflation rates and unfavourable currency trends are "impacting customers and putting pressure on various industries," according to Ryan in a post on Sony's PlayStation Blog.

Ryan attributed the choice to "difficult economic conditions."

"While this price increase is required given the current state of the world economy and how it affects SIE's business,

Ryan stated, "Improving the PS5 supply problem remains our top focus."

that the PS5 and its upcoming features be made available to as many people as feasible

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