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I'm worried because where I live, console game prices are calculated by converting the USA price to the local currency using the exchange rate and then adding an extra to make it profitable for retailers. That ends up being just too expensive here and unaffordable for most people, this increase will make this even harsher. I also fear that this will somehow make used games more scarce, with less people being able to buy them at release.

Third world country struggles aside, I think its fair considering that videogame prices have been stagnant for more than 10 years and game development cost has skyrocketed for AAA games.