Amazon has announced that it would be boosting the price of its Prime membership for U.S. customers, citing rising costs as the reason behind the decision.
In a letter to investors outlining its fourth-quarter earnings, the company stated that increased wage and transportation costs along with its expansion of membership benefits have led the online retail giant to increase its Prime fees for the first time since 2018.
Monthly Prime memberships will go from $12.99 to $14.99, and annual memberships will be hiked to $139 from the current $119.
The price change will go into effect for new members starting Feb. 18, and existing members will see their fees go up on the date of their next renewal after March 25.
Edited by Jesus Chan
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