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Are $70 Games A Product of Inflation or Corporate Greed?

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Video game prices are climbing next generation – but why? Call of Duty: Black Ops – Cold War and NBA 2K21 have both been confirmed to cost 70 USD on next generation consoles, and that's without factoring in the microtransactions (of which we know there will be plenty). Is this a product of simple inflation, or are video game companies just raising the prices to increase their profits?
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