Years of high inflation, paired with the impact artificial intelligence (AI) technology is having on the availability of hardware led to an unprecedented shift in PlayStation 5 price trends: rather than the six-year-old console turning cheaper, it has become more expensive than at its 2020 launch.
Specifically, the PS5 released at $499.99 in 2020, per an official X post made by the company in September of that year, while the official website shows the product listed at $649 at press time on September 18, 2026.
A similar increase is affecting the version without a physical media drive – PS5 Digital – which launched at $399.99 and rose to $599. Additionally, the consoles are even more expensive – albeit slightly – at the American retail giant Best Buy (NYSE: BBY), which adds another $0.99 relative to the cost shown on the PlayStation Direct website.
The situation is similar in Europe. The disc version of the console retails for £569 at the British seller Currys – $759.59 – and the German chain MediaMarkt has the same device listed at €649.99 – $744.99.
Notably, the 2020 official X post showed the U.K. price as £449.99 and the E.U. as €499.99. Thus, American consumers faced a 30% increase, British 26.45%, and European 30%.
PS4 price fell 31% after six years, and PS5 soared 30%
Meanwhile, the current trend of console prices runs directly against historical changes. For example, the PlayStation 4 was introduced at $399.99 in 2013 and became more than $100 cheaper within just six years.
For example, a March 31, 2026, Kotaku article shows that the original price of the device was, after adjusting for inflation, roughly $559 and fell to, once again after adjustments, $382 by 2019.
Notably, the price trends of the PS5 show that the console only grew slightly more expensive relative to its initial price after inflation is accounted for. The calculator available via the website of the U.S. Bureau of Labor Statistics shows that $499.99 in 2020 has the same purchasing power as $643.49 in 2026.
Thus, perhaps the bigger culprit for the price increase – and, more noticeably, the lack of a price drop – can be found in the hardware hunger of the AI industry.
Specifically, the buying spree of a handful of these technology companies effectively drained the market of multiple key components of gaming consoles, with RAM memory finding itself in particular focus.
Gaming was also not the only industry affected, and Apple (NASDAQ: AAPL) also recently announced price increases for its devices due to the changes in the hardware market.
Is GTA6 hype behind the surge in console prices?
Lastly, the upcoming November 19 release of Grand Theft Auto VI (GTA6) does not appear to have had an impact on console prices despite the video game’s popularity. Indeed, the aforementioned Kotaku article shows that the PS5 reached $650 already in March.
Still, the second-hand market could see substantial increases as GTA6’s popularity already reportedly created PlayStation 5 shortages in the U.K.
Featured image via Shutterstock
