Rumours and retailers were of course accurate, and from this day on the PlayStation 4 is going to be slightly cheaper in Europe, following similar actions recently initiated by Sony in Japan and the States.
The official press release confirms that the new recommended retail price for the 500GB model of the system is €349,99, meaning a €50 drop. SCEE's CEO Jim Ryan has stated the obvious, calling this "the best price ever for PS4". Here in the UK, the new RRP is £299.99.
The announcement doesn't specifically mention any bundle packs going for that price, although the bundle including Uncharted: The Nathan Drake Collection is currently listed at that very same lowered price and some retailers could offer something along those lines with other games in order to shift previous promotions.
Just yesterday Microsoft made their own move with a similar price cut for Xbox One in Europe, but in this case with several bundle options also detailed, although here in the UK the price of the console has been around £300 for some time now, bringing the price of both the PS4 and Xbox One inline with each other.