Amazon To Increase Prime Membership Fee By Up To 43% In Europe

Amazon is raising prices for its Prime subscription service in the U.K. and across Europe as the e-commerce giant grapples with the effects of rising inflation. CNBC reports: In the U.K., Amazon is set to hike the annual price of a Prime membership to 95 pounds ($114), up from 79 pounds, representing a 20% jump. The changes will take effect Sept. 15. The company is enforcing even steeper price increases in European markets. In France, the price of an annual Prime membership is going up to 69.90 euros ($70) from 49 euros, a 43% increase. German Prime members can expect a 30% hike in their annual Prime prices to 89.90 euros, up from 69 euros. Amazon blamed the price rises on "increased inflation and operating costs," along with higher expenses tied to faster delivery and content production for its Prime Video streaming service, Reuters reported. The company is scheduled to report second-quarter earnings Thursday. The move follows similar price hikes Amazon announced in the U.S. earlier this year. In February, the company said it would raise the price of its annual Prime membership for Americans to $139 from $119.

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