Sony has confirmed a price increase for its PlayStation 5 consoles, with hikes ranging from $100 to $150 depending on the model. This marks the second price adjustment within a year, citing pressures from the global economy, particularly rising memory chip costs. The new pricing will take effect starting April 2, affecting the PS5, PS5 Pro, and PlayStation Portal. As a result, the PS5 will now retail for $650 in the U.S. and the PS5 Pro will reach approximately $900. Analysts speculate that this move may influence competitors like Microsoft and Nintendo to reconsider their pricing strategies, as overall market conditions become more challenging for gamers, with the console now costing 30% more than it did previously.