Amazon Raises Prime Membership Price

This past Friday, Amazon.com Inc. (Seattle) announced that its raising its Prime membership subscription price by almost 20 percent. The increased renewal price for its members will be enacted next month.

The cost for the retailer’s free two-day shipping on Prime items and access to its streaming movies, music and cloud storage will rise to $12.99 per month from $10.99 per month. Discounted accounts, including student membership, will also raise, jumping to $6.49 per month from $5.59 monthly.

While for now annual membership costs have not been risen, analysts expect yearly subscription prices will most likely go up by 20 percent, according to Forbes, to $119 from the former $99 rate. The hike on annual memberships is expected in the next few months.