Bad news, Xbox gamers: Consoles and video game prices are going up

Starting today, Microsoft will be raising the recommended retail prices of its Xbox consoles and controllers, and video games are next. Microsoft says some new first-party games will see a holiday season price increase to 79.99. The news was announced on a May 1 blog post on the Xbox support blog. The blog post reads, "We understand that these changes are challenging, and they were made with careful consideration given market conditions and the rising cost of development. Looking ahead, we continue to focus on offering more ways to play more games across any screen and ensuring value for Xbox players."