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.
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