Microsoft has announced that it will increase Xbox prices worldwide. The price increase follows Nintendo's lead, which set a new standard with Mario Kart World. Many had predicted that Nintendo's aggressive strategy would introduce new pricing standards for AAA games,

Microsoft blamed “market conditions” and rising costs of production for the need to increase the prices of its Xbox consoles.

The cost of an Xbox Series S 512 will change today from $299.99 to $379.99, a whopping 27 percent increase. Meanwhile, an Xbox Series X will leap from $499.99 to $599.99, a 20 percent bump. The more recent Xbox Series X 2TB Galaxy has shot up 21 percent to $730, making it more expensive than a PS5 Pro.