The PlayStation 5 price will now be higher worldwide due to the global economic environment and high inflation rates.

PlayStation broke the news about the PS5’s price increase via a blog post on Thursday courtesy of SIE’s president and CEO, Jim Ryan. “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,” Ryan explains in the post. Those select markets appear to include pretty much all parts of the world where the PS5 is currently available, with the US being the most notable exception.

However other regions such as Canada, China, Mexico, the UK, Australia and most of Europe have fallen onto the price hike effective immediately list. Japan will have a new price tag next month starting September 15 2022. These price increases apply to both the disc and digital versions of the current-gen console.

The new RRPs below are effective immediately unless otherwise noted.*

• Europe
  • PS5 with Ultra HD Blu-ray disc drive – €549.99
  • PS5 Digital Edition – €449.99

• UK
  • PS5 with Ultra HD Blu-ray disc drive – £479.99
  • PS5 Digital Edition – £389.99

• Japan (effective Sept. 15, 2022)
  • PS5 with Ultra HD Blu-ray disc drive – ¥60,478 yen (including tax)
  • PS5 Digital Edition – ¥49,478 yen (including tax)

• China
  • PS5 with Ultra HD Blu-ray disc drive – ¥4,299 yuan
  • PS5 Digital Edition – ¥3,499 yuan

• Australia
  • PS5 with Ultra HD Blu-ray disc drive – AUD $799.95
  • PS5 Digital Edition – AUD $649.95

• Mexico
  • PS5 with Ultra HD Blu-ray disc drive – MXN $14,999
  • PS5 Digital Edition – MXN $12,499

• Canada
  • PS5 with Ultra HD Blu-ray disc drive – CAD $649.99
  • PS5 Digital Edition – CAD $519.99

No other countries are mentioned specifically, but it seems like others will be subject to the elevated prices. Ryan lists “Europe, Middle East, and Africa (EMEA), Asia-Pacific (APAC), Latin America (LATAM),” but fails to mention the specific price increases in some of those regions.

The PlayStation 5 is already a high demand and hard to get console, and this doesn’t make it any easier, and it will be more than likely that scalpers that sell the console on Ebay and other marketplace, will likely abuse the new price hike. Meta (Facebook)  Quest 2 VR headset also announced that they will increase the market price for their device while Nintendo and Xbox already confirmed that they will not do the same.