Sony ups price of PS5 in Canada due to inflation

In a blog post, SIE CEO Jim Ryan called the price increase a "necessity"

Playstation 5 and controller

Sony says it’s raising the price of the PlayStation 5 in Canada and other countries due to the “global economic environment, including high inflation rates.”

A blog post from Sony Interactive Entertainment president and CEO Jim Ryan outlined the price changes in several countries, which are “a necessity” and “effective immediately.” Canada will see the PS5 with Ultra HD Blu-ray disc drive increase to $649.99 and the PS5 Digital Edition increase to $519.99. Per Canadian game deals Twitter account Lbabinz, the consoles’ prices were previously $629.99 and $499.99, respectively.

Ryan attributed the change to inflation and adverse currency trends, writing:

“The global economic environment is a challenge that many of you around the world are no doubt experiencing. 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.”

The U.S. will not see a price increase for the PS5.

You can read the full blog post here.

Source: Sony Via: @Lbabinz