Sony has raised the prices of PlayStation 5 gaming consoles in Europe, the UK, Australia, and New Zealand. Citing high inflation and fluctuating exchange rates as reasons, Sony announced that it will increase prices of the PlayStation 5 series gaming consoles in European, British, Australian, and New Zealand markets. The Japanese technology and entertainment giant, Sony, will introduce a 11% price increase on the version of the PlayStation 5 gaming console without a disc drive, selling it for 499.99 euros (569.59 dollars) as of today. The same device will be sold in the UK for 429.9 pounds (566.90 dollars) after a 10% increase. Electronic device manufacturers had been facing disrupted trade conditions following additional customs duties imposed by U.S. President Donald Trump.