Claude Sonnet 5 Tokenizer Cost Increase: What the “Stable Pricing” Headlines Got Wrong
Anthropic cancelled Sonnet 5's scheduled price increase on August 31, holding rates at $2/$10 per million tokens instead of raising to $3/$15. Good news, right? Not quite. According to PE Collective's documented footnote on Anthropic's official pricing page, the model's new tokenizer produces ~30% more tokens for identical text than Sonnet 4.6—meaning the same prompt