Europe has more comprehensive social programs, socialized medicine, and higher minimum wages.
This means taxes, wages of shipping/warehousing/gamestore workers, power, fuel, etc. will be higher, when costs are higher than retail prices will be too. Also in the US taxes are added to msrp, because sales tax are on the state not the national level.
( Edit: South American prices are higher because there is no high end mass consumer market. The division between the working poor and middle class in South America is much wider than in US or EU, therefore, the companies may as well charge more because they can only sell so many any way. Also, because in Central and South America there is are third parties that market and ship the product, this cost more than direct marketing)
I would cite regulation, but I know you will simply ignore it.
