Microsoft raises Xbox console prices for the second time this year

Microsoft has announced a price increase for its Xbox console lineup, marking the second time this year the company has raised prices. The price hike affects several Xbox models, with some seeing a 33% increase in less than a year. The Xbox Series S, the company's more affordable next-generation console, is now priced at $299, up from $249. The Xbox Series X, the flagship model, will now cost $549, up from $499. The price changes are currently in effect in the United States and are expected to be implemented in other regions soon. Microsoft cites global economic conditions, including supply chain challenges and inflationary pressures, as the primary reasons for the price increases. The company states that the changes are necessary to "reflect the current global economic climate." This move follows a similar price increase announced by Sony for its PlayStation 5 console earlier this year, underscoring the broader trend of rising costs in the gaming industry.