Amazon is increasing the price for its annual Prime membership from $119 to $139 for the first time since 2018
The monthly subscription will also go up from $12.99 to $14.99. The increases will go into effect Feb. 18, but current members will see the new rate after March 25.
The company cited “expansion of Prime member benefits,” and rising wages and transportation costs as the reasons for the price hike. The announcement came after the company spentMeanwhile, Amazon reported $14.3 billion in profit last quarter, nearly double what it made in 2020.
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