The PS5 costs $499 (£479 / AU$799.95) - that's the same price as Microsoft's Xbox Series X in the US, but more expensive in the UK and Australia after the recent price hike. The cheaper PS5 Digital Edition is priced at $399.99 (£389.99 / AU$649.95).
It's almost guaranteed that both versions of the console will remain at this price for some time. Demand is still astronomically high for the console and Sony sees no reason to discount it for the time being. It even bumped up the price of the console in many regions due to increased production costs.