Amazon Jacks Up The Price Of Prime To $99

Amazon has increased the price of its Amazon Prime membership program today to from $79 to $99 annually. The raise of the price for Prime has been anticipated since Amazon’s last quarterly earnings call when CFO Tom Szkutak said that it was likely that the company would elevate the cost to consumers by $20 to $40.

Amazon Prime allows members free two-day shipping as well as access to Amazon’s Prime Instant Video television and movie streaming service as well as free access to the Kindle Owners’ Lending Library. Prime was introduced by Amazon in 2005 and had not seen a price increase since its inception in 2005. The price of Prime for students will remain at $49. Amazon Fresh, the company’s grocery delivery service, will remain $299.

The Prime price increase will go into effect for existing users on their renewal dates. If your Amazon Prime memberships has already been renewed in 2014, the price increase won’t go into effect until the renewal date in 2015.