Each PS5 model will now cost $50 more thanks to what Sony calls 'a challenging economic environment.' It follows Microsoft and Nintendo also upping console prices.

PlayStation, owned by Sony, announced it will raise the price of PS5 consoles for US consumers starting August 21.

The price increase for the PS5 has finally reached US shores, as Sony has officially announced that the PS5 console, in all models, will now cost more to

The Sony Inzone H9 II sounds incredible and feels great. It's just short of perfect in one important way. You don’t need to do much more to sell me on a pro-level gaming headset than Sony did with its latest Inzone H9 II.

Sony is raising prices on all three of its PlayStation 5 consoles by about $50 in the U.S. due to what the company calls "challenging economic times." And earlier this month, Nintendo announced it would also raise prices due to market conditions.

In case you missed it, PS Plus Extra/Premium added a brand-new PS5 console exclusive to the catalog day-one yesterday.