Amazon Prime’s annual subscription prices have increased by $20, while monthly…

Amazon Prime’s annual subscription prices have increased by $20, while monthly subscription prices have increased by $2.

Roommates, it appears that “yesterday’s pricing is not today’s price” is a statement that Amazon Prime has taken to heart, since the firm has announced a fresh price rise, following in the footsteps of its rival Netflix.

According to fresh rumors, Amazon Prime customers will see a significant hike in the cost of using the lightning-fast shipping and entertainment service, as both annual and monthly subscriptions are on the rise.

It appears that now is the moment to consider how much you value Amazon Prime and how much you’re willing to pay for it. According to @CNN, Amazon has just notified its millions of customers that prices are going up…and much sooner than you think.

Annual Amazon Prime subscriptions will go up from $119 to $139 in the United States, while monthly subscriptions will go up from $12.99 to $14.99. For new Prime members, the price increases will take effect on February 18th, and for all existing Prime members on March 25th.

If you’re wondering why Amazon decided to boost its rates seemingly out of nowhere, it’s due to the upcoming “enhanced Prime membership perks,” according to company executives.

Additional Prime Video content and increased free same-day shipping are among the benefits, however, rising labor and transportation costs in the company’s distribution network are also contributing to the hike in membership fees.

The last time Amazon Prime hiked its costs was in 2018 when the yearly membership fee went from $99 to $119 (for a limited time only). The most recent price rise is a 17 percent increase.

The decision is the latest in a long series of recent ones in which businesses across the country have been forced to hike prices as the cost of nearly everything has risen since the COVID-19 pandemic.