Amazon to raise price of its Prime membership for the first time since 2018. The annual membership fee will increase by $20 from $119 to $139, and the monthly fee will increase by $2 from $12.99 to $14.99, the company announced on Thursday.
For new Prime members, the price increase will take effect on February 18. Existing members will be charged the price after March 25, on the date of their next renewal. The e-commerce behemoth claims the increase is due to the continued expansion of Prime member benefits, as well as increases in wages and transportation costs.
"Amazon continues to make significant investments in Prime." In recent years, we've expanded the product selection available with fast, free, unlimited Prime shipping; more exclusive deals and discounts," said Jamil Ghani, vice president of Amazon Prime, in a statement. "With the continued expansion of Prime member benefits, as well as wage and transportation cost increases, we will raise the price of a Prime membership in the United States."