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Investing.com -- Sony (NYSE:SONY) Group Corp. has increased the price of its PlayStation 5 console by approximately 25% in Europe and the UK, with expectations of a similar move in the U.S.
The price hike was announced on the company’s PlayStation blog, and also affects Australia and New Zealand. The company cited inflation and a challenging economic environment as the reasons for the increase.
Starting Monday, the PlayStation 5 will cost €500 in Europe and £430 in the UK. The announcement follows the recent imposition of broad tariffs on imports to the US by President Donald Trump.
This move has unsettled stock markets and has left U.S. consumers anticipating price increases for a wide range of consumer goods.
The PlayStation 5 console, now over four years old, has been updated by Sony with a more expensive PS5 Pro edition. However, the company has stated that the price of this top-tier model will remain unchanged.
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