All three PlayStation 5 consoles will see a similar price increase. The most expensive Pro version now has a recommended retail price of $749.99. The price hikes come after US President Donald Trump imposed tariffs on most of America's trading partners, including Japan, which has led to fears of rising costs.

“Similar to many global businesses, we continue to navigate a challenging economic environment,” Isabelle Tomatis, Sony’s vice president of global marketing, said in a Wednesday press statement.