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.

Nintendo may not have raised the price of the Switch 2 yet, but it's not alone. As mentioned above, Sony announced today (August 20) that every PlayStation 5 model is seeing a $50 price increase across the board.

Sony is raising PS5 prices in the US, with every system going up by $50. The company said it is continuing to "navigate a challenging economic environment" and will pass the cost on to consumers in the form of higher prices. The new prices go into effect on August 21.