In general, we like to think we know how much something is worth. The decision is based less on logic and more on emotion, an intangible gut feeling. When it comes to video games we know when a game is under, or in most cases, over-priced. Unfortunately, that aptness in designating price to value is disrupted by inflation.
Inflation has recently become a serious problem the world over. No country is immune and there are real fears that higher interest rates, squeezed demand and cutbacks could spark stagflation or even worse – a global recession. Reports of stable goods going up in price is becoming a daily occurrence.
At the time of writing UK inflation rates are at a four-decade high and are just south of breaking into double-digits. We are seeing the effects of inflation everywhere. Commodity and food prices are all up. McDonalds has increased its prices for the first time in 14 years. Amazon Prime will increase its price for the first time in eight years. Even technology, which usually sees prices decline with time, is not immune. Meta announced it will increase the price of its two-year old Quest 2 VR headsets by $100 (although there are other reasons than inflation which are specific to Meta’s business on why it is doing this).