Amazon.com is not insulated from inflation, the supply chain crisis or the labor shortage in America and today announced that it will raise its Prime subscription fees.
The company said that annual subscriptions will increase 17% from $119 per year to $139 and monthly subscriptions will go from $12.99 to $14.99.
According to Amazon, the increases are due to the rising cost of labor and transportation and additional Prime video content.
Current members will see the increase after March 25th while new members can expect to pay the higher rate starting February 18.
The last increase to Prime fees was in 2018 when the rate went from $99 per year to the current $119.
Transportation costs have largely risen due to a huge increase in the price of gasoline and diesel as the Biden administration seeks to lower production of both. Also, labor shortages have driven up labor costs and made it more difficult to stock items customers are looking for.
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