As Christmas creeps closer, gamers and parents alike are becoming acutely aware of the worsening cost of living crisis, and Christmas presents will only add to the load.
The PlayStation will have a price increase of €50, meaning the price of the latest digital version of the popular games console will go from €399.99 to €449.99.
Newstalk's Tech Correspondent Jess Kelly joined Newstalk Breakfast to discuss the impact of the price hike.
"When the PlayStation 5 first came out, there was limited stock there was huge issues with getting your hands on these consoles", she said.
"I know a number of gamers who held off on buying the console to wait for more titles to come out. So a lot of people were either thinking of getting one now, or they were contemplating getting one for a friend or family member for Christmas."
"Although a price increase is never good, it's going up by €50, which firstly is a big chunk of money, but it also pushes the price of both consoles into a new price bracket."
The full version of the PlayStation, which requires a disk drive, will rise from €499.99 to €549.99 in European countries.
This does not include the cost of games.
"The games can go from anywhere from 40 to 90 quid so this is just a massive blow out a very tough time for people."
In a statement, Sony Interactive Entertainment described the increase as "a necessity given the current global economic environment and its impact on SIE’s business".
Kelly said: "That's fine and dandy, but we've known that there's issues with this area for quite a while. We know that the chip shortage had an impact. We know that COVID had an impact."
"So, you know, it's just a tough one to swallow."
"They're looking to bring revenue in. So while we all know that there is you know, global economic uncertainty - and there is, you know, inflation left, right and center - this to me just feels like the gaming companies taking an opportunity."
Europe is seeing the biggest price increase, while the cost of a PlayStation in the United States will remain the same.
Main image shows a PlayStation controller. Image: Joeri Mostmans/Alamy Stock Photo