On September 22, the price for a year of PlayStation Plus will go from $49.99 (USD) to $59.99, or the typical price of a new game. Those looking for three months will see the price increase to $24.99. Interestingly, the price for one month will stay at $9.99.
PlayStation Plus strives to enrich your PlayStation experience through a world-class service built for our fans. This marks the first time that PS Plus membership prices will increase in the U.S. and Canada since the launch of the service in 2010. The new pricing reflects the current market conditions while enabling us to continue providing exceptional value to our members. As a member, you will continue to enjoy the benefits and features that enable shared experiences, such as online multiplayer, free games, and exclusive discounts. You will also continue to get exclusive benefits such as online game save storage and discounts across the PlayStation digital services.

Sony notes that if you do not want to pay the increased price, you should cancel auto-renewal prior to the change on September 22. Our personal suggestion is that you should maybe stock up on some subscription cards prior to the price hike next month. If not, there are usually a number of sales going on for things like PlayStation Plus and Xbox Live to keep an eye out for.

Speaking of Xbox Live, the typical price for a year of that service is also $59.99.

(via PlayStation blog)