U.S sales of video game hardware and software fell 31% to $1.17 billion in June, Reuters reports, citing a study by NPD Group Inc.

The drop is the biggest since 2000.

Sales of game software fell 29% to $625.8 million, while hardware sales dropped 38% to $382.6 million. Sales of accessories declined 22%.

Reuters: Wedbush Morgan analyst Michael Pachter blamed the decline in part on the high cost of video game consoles. "The consumer is just not buying hardware at these prices ... clearly the consumer is just waiting for price cuts," said Pachter, who expects industry sales to pick up in September with the release of new high-profile titles.

Indeed, it seems the higher-priced a console, the more its sales dropped last quarter.

Sales of Sony's (SNE) PS3, the most expensive console at $399 dropped 59%, and Nintendo's Wii at $249 dropped 46%. Meanwhile, sales of Microsoft's (MSFT) cheaper, $199 Xbox 360 actually grew by 9.5%.