San Francisco, Dec 6 (IANS): Microsoft will reportedly raise its first-party Xbox game prices from $59.99 to $69.99 next year.

The new full-priced Xbox Game Studios games, including Redfall, Starfield and Forza Motorsport, will be priced at $69.99 instead of the regular $59.99, The Verge reported.

It's a price increase that matches the pricing that competitors like Sony, Ubisoft, and Take-Two all offer their own games at.

"Starting in 2023 our new, built for next-gen, full-priced games, including Forza Motorsport, Redfall, and Starfield, will launch at $69.99 on all platforms," Microsoft said in a statement.

"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," it added.

In October, Microsoft Gaming CEO Phil Spencer also hinted that prices might increase after the holidays.