Well actually no it's not.

Most games in the UK are £40-£45 brand new. Anything remotely good like Modern Warfare 2, Left 4 Dead 2 etc, is definitely at the £45 mark. Only the average titles generally sit at the £40 mark or lower unless a game is on sale.

$60 is £37.50 (conversion rates can vary).

Then you have to take into account the different sales that each site/store has.

In general you can't compare the prices in one country to the prices in another. One because currency rates are always changing, two because store sales don't allow it to be accurate.