Sony has increased the PS5's price in certain markets across the globe due to global inflation rates.
Sony Interactive Entertainment President and CEO Jim Ryan said, "We're seeing high global inflation rates, as well as adverse currency trends, impacting consumers and creating pressure on many industries. 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 across Europe, Middle East, and Africa (EMEA), Asia-Pacific (APAC), Latin America (LATAM), as well as Canada. There will be no price increase in the United States."
Sony has detailed new recommended retail prices of PS5 for Europe, UK, Japan, China, Australia, Canada, and Mexico.
Europe
UK
Japan (effective from Sept. 15, 2022)
China
Australia
Mexico
Canada
Sony has also assured that it is working on "improving the PS5 supply situation so that as many players as possible can experience everything that PS5 offers." PS5 stocks still aren't enough in India and buyers have to wait for monthly restocks to get a console. The situation seems to be even worse with Xbox Series X availability in the country. Hopefully, the Indian market may get better PS5 and Xbox Series X stocks in the near future.