Claude Sonnet 5's Tokenizer Trap: The Hidden 35% Token Inflation & the $2→$3 Pricing Cliff
Claude Sonnet 5's intro window ends August 31, 2026 — $2/M input becomes $3/M on September 1 — while its new tokenizer emits up to 35% more tokens per equivalent text, compounding effective cost per 1,000 words to roughly 2.03x. This analysis provides the before-and-after unit economics and the routing, compression, caching, and renegotiation playbook.