Is the all-digital, $749.99 PS5 Pro worth $200 more than the base PS5 with an optical drive? I break down the differences between the two Sony consoles to help you decide which system has the most bang for the buck.

Sony is raising prices on all three of its PlayStation 5 consoles by about $50 in the U.S. due to what the company calls "challenging economic times." And earlier this month, Nintendo announced it would also raise prices due to market conditions.

On August 20 — just hours before the tech world dialed into the Made by Google Pixel 10 launch — Sony announced that it's raising the recommended prices for PS5 consoles by $50 for U.S. retailers. The new prices will likely take effect starting Thursday, August 21, though retailers may implement the new prices at different times.

Xbox and Nintendo also announced price increases for their respective consoles this year, with PlayStation's price increase starting Aug. 1.

Each of the three current models of the PS5 consoles will go up by $50. That means the PS5 Digital Edition will be $500 instead of $450; the standard PS5 (with Blu-ray optical drive) will be $550 instead of $500; and the high-end PS5 Pro will be $750 instead of $700.