• Sony has increased the price of all PlayStation 5 models by $50 in the U.S., effective August 21.
• The standard PS5 will now cost $549.99, while the PS5 Digital Edition will be $499.99.
• Economic pressures, including tariffs, are cited as the reasons for the price hike.

Sony Interactive Entertainment has announced that the price of all PlayStation 5 console models in the United States will increase by $50, effective August 21. The standard model's new price will be $549.99, the Digital Edition will cost $499.99, and the PS5 Pro will now be $749.99. PlayStation 5 accessories will not see any changes in pricing. This decision is attributed to a challenging economic environment and escalating costs due to tariffs, according to India Times.

The price hike comes as Sony joins other gaming companies like Microsoft and Nintendo in raising prices amid market pressures. Microsoft recently upped the price of its Xbox Series X by $100, while Nintendo has indicated it will raise prices as well. Isabelle Tomatis, Sony’s Vice President of Global Marketing, noted, “Similar to many global businesses, we continue to navigate a challenging economic environment,” leading to the increase in retail prices for PS5 consoles in the U.S., according to Reuters and BBC.

Industry analysts suggest that rising tariffs, including a significant 15% tax on products imported from Japan, are key drivers of the inflation in console pricing. The trade policies initiated under former President Donald Trump have left many consumers and companies feeling the financial bite, as indicated by social media reactions where users expressed their frustration with these circumstances. Critics argue that while tariffs increase costs, companies could opt to absorb some of these expenses rather than increasing retail prices, per reports from HuffPost.