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

Sony, which joins other video game console makers in hiking their prices, attributed the increase to the "challenging economic environment."

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,