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

Sony announced that starting Thursday, there will be a price increase for the popular video game console PS5. The gaming console will now cost $50 more because of "a challenging economic environment," Sony said.

On August 20 — just hours before the tech world dialed into the Made by Google Pixel 10 launch — Sony announced that it's raising the recommended prices for PS5 consoles by $50 for U.S. retailers. The new prices will likely take effect starting Thursday, August 21, though retailers may implement the new prices at different times.