Xbox claims there will be NO price hike despite PS5 rise

XBOX has commented that it won’t be raising the prices of its Xbox Series consoles following Sony’s announcement that the PS5 will receive a price hike.

CEO of Sony Interactive Entertainment (SIE), Jim Ryan, announced yesterday (August 25) that the price of PS5 consoles would rise as much as 12% following global high inflation rates.

The price hike will affect the majority of regions outside of the US.

The amount that consoles will increase depending on the currency.

Europe will be one of the worst regions hit, with prices rising by €50 each for both versions of the PS5.

Xbox has now responded to questions on whether the company will follow suit by increasing the price of Xbox Series consoles.

The company has prided itself of being an affordable option for console games.

Speaking with , Xbox claims that there will be no rise in prices for its consoles, no matter which region you live in.

A statement from a spokesperson for Xbox said: “We are constantly evaluating our business to offer our fans great gaming options. 

“Our Xbox Series S suggested retail price remains at $299 (£250, €300), the Xbox Series X is $499 (£450, €500).”

Currently, there is a global economic crisis which has seen inflation increase almost across the board.

The UK is one of the hardest regions hit, with inflation expected to rise to unprecedented highs of 18%.

Sony is hoping to protect its profits by combating inflation with its recent price hike.

This is extremely unusual, particularly for a console which has been on the market for almost two years.

The last time one of the three major gaming console creators raised the price of its mainline console was back in 2009.

Nintendo increased the price of the Wii by £20 during the recession in the UK.

Written by Georgina Young on behalf of .