Xbox has decided it is time to raise the prices on their series X|S first-party games due to their "technical complexity and scale", much like other publishers have already done.
Starting in January of 2023, Microsoft will be hiking the prices of their first-party games, such as Starfield and Redfall, from $60 to $70. The company states that this is due to the games being intricate, complex, and time-consuming. This means that rather than being priced at $59.99 USD as we have known for quite some time now, they will match other publishers' prices of $69.99 USD for most AAA titles. Other publishers had already jumped onto the price-hike train when inflation had begun to rise, and Microsoft had done its best to avoid joining Ubisoft and Sony on that ride. Sadly, they are now feeling the burn from inflation and increased development costs.
Microsoft did comment on this price increase, where they state,
"We’ve held on price increases until after the holidays so families can enjoy the gift of gaming. Starting in 2023 our new, built for next-gen, full-priced games, including Forza Motorsport, Redfall, and Starfield, will launch at $69.99 USD on all platforms. This price reflects the content, scale, and technical complexity of these titles. As with all games developed by our teams at Xbox, they will also be available with Game Pass the same day they launch."
Microsoft has made it very clear in the past that they are losing money on console sales, but even so, they do not anticipate raising the prices of their consoles. Though they have not made any comment on the possibility of the console price rising after this game price increase, one can only hope they keep the cost of the consoles the same for at least a little while longer.