Sony announced that starting Thursday, there will be a price increase for the popular video game console PS5. The gaming console will now cost $50 more because of "a challenging economic environment," Sony said.

Starting Thursday, all PlayStation 5 models sold in the United States will see a $50 price increase, Sony revealed, citing the mounting financial pressure from newly imposed tariffs under the Trump administration.

On August 20 — just hours before the tech world dialed into the Made by Google Pixel 10 launch — Sony announced that it's raising the recommended prices for PS5 consoles by $50 for U.S. retailers. The new prices will likely take effect starting Thursday, August 21, though retailers may implement the new prices at different times.