PlayStation, owned by Sony, announced it will raise the price of PS5 consoles for US consumers starting August 21.

Sony is raising the price of all PS5 models by $50 in the US due to a “challenging economic environment,” according to a blog post. The changes will go into effect on Thursday. The new prices are as follows:

Sony held out longer than Microsoft and Nintendo, but it too is increasing the prices of PlayStation consoles in the US starting on August 21. The standard PS5 (the one with with a disc drive) will now run you $550,