Amazon is coming after your wallet with Amazon Prime price increases in the coming weeks.

On Thursday, February 3, the company announced that it would raise prices for Prime subscriptions in the United States.

The company noted that the upcoming 17% price increase is the result of “continued expansion of Prime member benefits as well as rising wages and transportation costs.”

Amazon also plans to expand free two-day shipping and invest heavily in Prime Video content.

“Amazon has added more selection of products available with fast, free and unlimited Prime delivery; more exclusive offers and discounts; and more high-quality digital entertainment, including TV, movies, music and books,” the company wrote in a press release.

In its earnings report, Amazon revealed that the company made a staggering $14.3 billion in profit in the fourth quarter of 2021 – nearly double its profit from the previous year – and now has more than 200 million subscribers.

How much does the price of Amazon Prime increase?

Starting February 18 for new members and March 25 for existing members, annual Amazon Prime costs will drop from $119 to $139.

The monthly price will increase from $12.99 to $14.99.

Even students will be affected as the price of Prime Student membership would also increase from $59 to $69 per year. This is the service’s first price increase since 2018.

As with most price increases, the news was not well received, with Amazon Prime members flocking to social media to share their displeasure.

Many were aimed solely at founder Jeff Bezos – who, according to Forbes worth $177 billion – for price hikes.

“@JeffBezos has to pay for his #superyacht expenses somehow… And we know with his #billionaire lifestyle he doesn’t pay taxes so he’s just gonna demand more money from you/the consumer”, someone wrotereferring to the Dutch bridge that will soon be dismantled so that Bezos can get his yacht across.

Another one weighed: “Damnnnn…. Bezos is already the richest man in the world! He wants even more money.”

“The company is worth more than many countries and Bezos makes more money every hour than most people will ever… but keep charging more,” another mocked.

“Everyone, and I say this very clearly, EVERYONE, needs to cancel their bounty now,” one user said. tweeted. “Amazon has made so much money from the pandemic alone, Jeff regularly takes rocket trips to space, there is literally NO excuse to justify an increase in membership fees.”

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