If you look at the inflation for the U.K from 1995 to 2006 it was about 33% so that 300 in 1995 would be about 399 today still giving about 25£ advantage to the PS3 in cost or about 18£ in 1995. For comparison in the U.S. it launched at $300 which would be about $410 today. If you look at the 6 month data on this site you can see that after one year of selling at that 300£ price it had sold only 1.78 million in PAL countries 2.5 million in America and although it gives the PSone about 3 extra months of sales time about 2.45 million in Japan. Also keep in mind that this was also most of the time only competing with the Sega Saturn for your gaming money. One comparison I think kind of drives in home on how much Europe kind of gets screwed on this is this though is this 600 dollars in 2006 would be about $455 in 1995 for the PSone add to that the 599 charged to the majority of Europe right now is about $800 in U.S. dollars and the 425£ is about 845 U.S. dollars.
http://www.moneysorter.co.uk/calculator_inflation.html
http://www.bls.gov/cpi/
http://www.xe.com/ucc/
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