PlayStation 5 price hike hits US Gamers after Trump’s Tariffs take effect

Sony has announced that the price of PlayStation 5 consoles in the US will rise by around $50 (£37) from Thursday, blaming rising costs and a slowdown in the video game market.

Like many global firms, Sony says it is navigating a “challenging economic environment.” Isabelle Tomatis, Sony Interactive Entertainment’s vice president of global marketing, confirmed the decision in a blog post, adding that all three PS5 models will see similar increases.

The most expensive model, the Pro, will now retail at $749.99, while the standard PS5 will cost $499.99 in the US. Accessories will remain at the same price for now, and Sony stressed there are currently no plans for further price rises in other countries.

The hikes come as companies across multiple industries face the knock-on effects of tariffs imposed by US President Donald Trump on key trading partners, including Japan. “We’ve made the difficult decision to increase the recommended retail price for PlayStation 5 consoles in the US starting on 21 August,” Tomatis said.

This move follows similar increases seen earlier this year in the UK and Europe, where Sony cited high inflation and unstable exchange rates. The gaming industry has been hit hard by rising costs, and players have noticed. Nintendo recently raised the price of its original Switch console, while Microsoft has increased prices for Xbox consoles and accessories in several countries.

Gamers have also been vocal about soaring software costs. Popular titles like Mario Kart World now carry a £75 price tag, sparking frustration among fans who argue that gaming is becoming less affordable.

The issue extends beyond the gaming world. Major global companies have warned for months that tariffs are driving up expenses, forcing them to pass on at least some of those costs to consumers.

US home improvement giant Home Depot recently said higher import taxes will push up some of its prices. “For some imported goods, tariff rates are significantly higher today than they were at this time last quarter,” the company’s finance chief Richard McPhail told The Wall Street Journal. He added that while increases would be “modest,” they are unavoidable in certain categories.

Sportswear brands are also feeling the pressure. Adidas warned in July that tariffs would add an extra €200m (£173m; $233m) to its costs, meaning higher prices for American customers. Nike announced in May that it would raise prices on some trainers and clothing in the US from June, later admitting tariffs could add about $1bn (£730m) to its bills.

For Sony, the timing is tricky. While the PS5 has been hugely popular since its launch, the video game industry is cooling after a pandemic-era boom. With costs rising and competition from Nintendo and Microsoft heating up, the latest price hike risks frustrating loyal fans.

Still, the company insists it had little choice. As Tomatis put it, this was a “difficult decision” — one that reflects the wider struggles faced by businesses and consumers alike as tariffs and inflation reshape the global market.