Xbox Series X will soon soar in price, so now's the time to buy

As previously suggested by Xbox boss, Phil Spencer, Microsoft is raising the price of its flagship console, the Xbox Series X. It will soon cost the same as the PlayStation 5.

That means it will be up to 18% more expensive from 1st August 2023.

However, only certain regions will be affected. The price hike is planned for the UK, Central Europe, Canada and Australia. In fact, it will come into affect in most countries where the console is sold, save for the US, Japan, Chile, Brazil, and Colombia.

Currently £449.99 in the UK, and €499.99 in Europe, the Xbox Series X will set you back £479.99 and €549.99 respectively.

The console's price was already raised in Sweden in February.

Market conditions, such as stubborn inflation around Europe, have been given as the reason for the raise: "We've held on our prices for consoles for many years and have adjusted the prices to reflect the competitive conditions in each market," said Xbox's Kari Perez to The Verge.

It echoes a move by Sony, which raised the prices of its PS5 and PS5 Digital Edition consoles in certain countries last summer. The same reasons were given at the time.

Of course, there's one way to avoid having to pay more for your swanky, new, powerhouse of an Xbox console: buy it now (or before the start of August, anyway).

There are plenty of bundle deals around and you can spend the extra cash on an additional Xbox controller or extra storage for your machine.

It's also worth noting that, while the Xbox Series X is going up in price (as is an Xbox Game Pass subscription), the Xbox Series S has seemingly avoided the same fate - for now, at least. It remains at £249.99 / €299.99.

It's not yet known how the new pricing will affect the Xbox All Access scheme, which allows you to pay for a new Xbox with Game Pass on a monthly, interest-free basis. We assume it'll rise too, come the start of August.

We'll keep you informed on any other pricing plans that Microsoft has up its sleeve. It could lead to an interesting Black Friday this year, that's for sure.