The PS5 is official, or at least an as yet unnamed new Sony console is. While the specs of the Playstation 5 have been revealed, the price hasn't been announced.
However, Peter Rubin, who conducted the interview leading to the first details of the PS5 being revealed, shed further light on the potential pricing. When he asked Mark Cerny, the Lead System Architect of the PS4, about the pricing, he replied that it "will be appealing to gamers in light of its advanced feature set."
This of course doesn't reveal the price but industry experts have estimated that the price will be between $500 and $600. Given that the PS3 didn't sell well, and was considered pricey, it is perhaps a safer estimate that the Playstation 5 will be around the $500 mark.
Price comparison between console generations
This is fascinating news but how does it compare to previous console prices and what prices would they be by today's standards (inflation adjusted).
For the sake of consistency we'll compare the initial recommended retail prices (RRP) of each console.
PS4 and Xbox One
The best comparison is with the latest generation of consoles - the PS4 and Xbox One. Both released in late 2013 and while the PS4 boasted slightly more powerful hardware, it was the Xbox One that came with the steeper price tag.
Inflation adjusted: $436
Xbox One: $450
Inflation adjusted: $491
PS3 and Xbox 360
Dubbed the seventh generation of video game consoles, the PS3 and Xbox 360 brought in the era of HD gaming. The Xbox 360 was released in November 2005 and the PS3 a year later, in November 2006.
PS3: $500 (20GB) and $600 (60GB)
Inflation adjusted: $630 (20GB) and $757 (60GB)
Xbox 360: $300 (Core) and $400 (Premium)
Inflation adjusted: $390 (Core) and $521 (Premium)
PS2 and Xbox
There's a reason the Sony Playstation 2 is so beloved and that's because it is the best selling video game console of all time. While the Xbox wasn't as popular within the mainstream, it does have a cult following which still play it religiously even today.
Inflation adjusted: $443
Inflation adjusted: $424
Playstation, Nintendo 64 and Dreamcast
The criminally underrated Dreamcast was Sega's final console offering. Meanwhile, the Playstation was the first Sony branded console which of course has gone on to be arguably the biggest console brand today. The N64 came at a time when Nintendo were still on top of the gaming hardware market.
Inflation adjusted: $500
Nintendo 64: $200
Inflation adjusted: $324
Inflation adjusted: $305
The PS3 is by far and way the most expensive console to launch when accounting for inflation. This is followed by the first Playstation console and the most recent generation's Xbox One.
Conversely, the cheapest were the Sega Dreamcast and Nintendo 64, both coming in at just over the $300 mark - a good investment if there ever was one...