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

Sony is hiking the price of PlayStation 5 consoles in the U.S. this week, citing a "challenging economic environment."

The pricing was announced in a blog post shared by PlayStation Wednesday, which stated: “Similar to many global businesses, we continue to navigate a challenging economic environment. As a result, we’ve made the difficult decision to increase the recommended retail price for PlayStation 5 consoles in the U.