Microsoft is raising prices for Xbox consoles globally, with the flagship Series X jumping $100 to $599.99 in the US. The more affordable Series S will increase by $80 to $379.99, while game prices will reach $80 later this year.

The company cited "market conditions and the rising cost of development" in a statement, adding that it continues to focus on "offering more ways to play more games across any screen and ensuring value for Xbox players."

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