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The price of Amazon Prime is going up

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An Amazon Prime truck in Staten Island, New York.

An Amazon Prime truck passes by a sign outside an Amazon fulfillment center in Staten Island, New York, in this March 19, 2020, file photo.

Kathy Willens, Associated Press

Amazon Prime is going up in price.

What’s happening: Amazon.com Inc. said Thursday that it will be raising the cost of Amazon Prime from $119 per year to $139, according to The Wall Street Journal.

  • Monthly customers jump from $12.99 to $14.99 per month.
  • This is a 17% jump.
  • The price change for new members will go into effect on Feb. 18.
  • The prices for existing customers will apply after March 25.
  • Amazon is raising prices due to shipping and labor costs, The Wall Street Journal reports.

Why it matters: Amazon Prime is a premium service that gives customers access to free two-day shipping and exclusive entertainment options, like movies and TV shows. A price increase is going to impact millions of people across the country.

Other increases: Little Caesars announced in January that its famous Hot-N-Ready pizza will cost more than $5 for the first time in about 25 years — raising the price to $5.55.

  • In November, Dollar Tree — made famous for being one of the few dollar stores that sells everything for $1 — raised the prices of most items from $1 to $1.25, per the Deseret News.