Amazon announced that they are increasing the annual price for Prime memberships by about 20 percent.
Starting May 11, 2018, the cost of annual Prime membership for new members will jump from $99 a year, to $119 a year. Annual Prime Student membership will cost $59 a year. The same increased prices will begin for existing Prime members on June 16, 2018. Annual Prime members will receive an email with their renewal details in May.
According to CNBC, the company's chief financial officer Brian Olsavsky attributes the increase to the service's rising costs. For more details about, or to make changes to your membership go to Manage Amazon Prime Membership.