Sony is announcing PlayStation 5 game consoles will cost American consumers $50 more starting this week. The company did not give a reason for the price hike, but companies have been warning for months that tariffs could send prices higher on thousands of items,

Buying the latest-gen Sony console just got more expensive as the company just raised the price of PlayStation 5 consoles.

The Japanese company announced a base model now costs about $550. It previously cited Trump's tariffs as a reason for potential price increases.