Sony announces price increase for PlayStation Plus

According to a post on PlayStation Blog, there will be a price increase for PlayStation Plus starting September 22. For new and current members, the price will go up for the 1-year and 3-month membership plans.

The new membership prices are as follows:
$59.99 (up $10 from $49.99) for 1 year
$24.99 (up $7 from $17.99) for three months
$9.99 (no price change) for one month.

For current subscribers of the service, the price increase will be noticeable when they renew their accounts. If a member wants to discontinue the services, he or she can cancel the subscription by turning off auto-renewal before September 22.

[Source]: PlayStation.Blog: PlayStation Plus: Free Games for August 2016.