PlayStation Plus is getting more expensive

PlayStation Plus subscribers are facing a steep price hike this month, with Sony announcing plans to increase the cost of its gaming subscription service.

While the month-to-month price of PlayStation Plus isn't changing, the cost of subscribing to each of the three tiers on a 12-month annual subscription is going up.

In Australia, the price of a 12-month subscription to PlayStation Plus Essential is rising from $79.95 to $95.95. The cost of a 12-month subscription to PlayStation Plus Extra is also going up from $134.95 to $169.95.

Last but not least, the 12-month subscription to PlayStation Plus Deluxe is getting the biggest bump of all. It's going up from $154.95 to $196.95. That's a solid $40 more than it would have cost you to sign up last week.

Surprisingly, the official line from Sony on these price hikes doesn't mention inflation. Instead, Sony's director for Content Acquisitions & Operations Adam Michel chalked the move up as a necessary step towards the improvement of the services the company provides.

One of the only silver linings here is that these annual PlayStation Plus subscriptions will still offer some savings over their 1-month and 1-month counterparts. For example, sticking with the PlayStation Plus Essential tier for a year on a month-to-month plan works out to be $143.40.

In addition, those who are already on an annual plan won't be shunted onto the new rate unless they upgrade, downgrade or cancel their existing subscription. So long as you stick around, Sony won't charge you a cent more. Until you need to renew anyway.