In the post, Ryan cited high inflation rates and adverse currency trends as the main reasons behind this price hike, calling it “a necessity given the current global economic environment and its impact on SIE’s business.” The United States is the only market that will see no price increase, but Canada, Europe, the Middle East and Africa, Asia-Pacific, and Latin America will get new prices effective immediately. Japan is also getting a price hike, though that will take effect on September 15. Sony did not say whether PS5 accessories, such as the DualSense Controller, will receive a similar hike. Here are all the updated prices for both PS5 editions:

PS5 new price in Canada

PS5 Standard Disc Drive Edition – CAD $650 PS5 Digital Edition – CAD $520

PS5 new price in Europe

PS5 Standard Disc Drive Edition – €550 PS5 Digital Edition – €450

PS5 new price in UK

PS5 Standard Disc Drive Edition – £480 PS5 Digital Edition – £390

PS5 new price in Australia

PS5 Standard Disc Drive Edition – AUD $800 PS5 Digital Edition – AUD $650

PS5 new price in Mexico

PS5 Standard Disc Drive Edition – MXN $15,000 PS5 Digital Edition – MXN $12,500

PS5 new price in China

PS5 Standard Disc Drive Edition – ¥4,300 yuan PS5 Digital Edition – ¥3,500 yuan

PS5 new price in Japan (September 15)

PS5 Standard Disc Drive Edition – ¥60,478 yen (including tax) PS5 Digital Edition – ¥49,478 yen (including tax)

In closing, Ryan said that Sony’s “top priority” continues to be on improving PS5 availability.