Sony has confirmed a new round of price increases for its PlayStation hardware in Australia, pushing the flagship PS5 console to nearly $1,000 and marking the third local price hike since launch.

Effective April 2, the standard PlayStation 5 will retail for A$999.95, up from A$829.95, while the PS5 Digital Edition rises to $919.95 from $749.95. The higher-end PS5 Pro will jump to $1,399.95 (previously $1,199.95), and the PlayStation Portal remote player will increase to $389.95 from $329.95.

Sony cited “continued pressures in the global economic landscape” as the key driver behind the increases. The company also lifted prices in the US, Europe and Japan.

Industry factors appear to be playing a significant role. Rising memory chip costs, driven in part by demand from AI infrastructure, as well as ongoing supply chain disruptions have contributed to higher manufacturing expenses. Recent geopolitical tensions impacting key semiconductor materials have further strained supply.

This latest hike sees the PS5 return to a symbolic price point in Australia, matching the infamous $999 launch price of the PlayStation 3 in 2006.

Sony is not alone in adjusting pricing, with Microsoft and Nintendo also increasing console and accessory costs over the past year.

But repeated price rises could dampen consumer demand, particularly as the current console generation matures and sales growth slows globally.