First, there was the electricity and gas crisis, then the added fuel costs and now there's Amazon Prime. It seems that prices are rising everywhere and Amazon's services are no exception.
In an email this morning to Prime members, Amazon announced that the price of the monthly Prime subscription would increase from £7.99 to £8.99. For annual subscriptions the price increases from £79 to £95, a £16 rise.
Amazon's Prime membership gives you a range of benefits throughout the year, including free shipping, Amazon Music, Prime Video and Prime Reading. It also gives you access to the great Prime Day deals on Amazon Prime Day. With rumours still circling of a second Prime Day taking place in October, you don't want to be left without access.
The new prices don't come into action until 15th September 2022, giving subscribers plenty of time to act, if they wish. Though some could cancel, I suspect most of us will simply carry on. If you are on an annual Prime subscription that runs out in September or October, it could be worth cancelling your membership and starting a new subscription before the September date. As although you won't get the remaining months refunded, you will save yourself £16 on the cost of the new one.
If you currently pay monthly, you can switch to an annual payment before 14th August and lock in the current £79 for the year. Even from September, the annual price is equivalent to just £7.92 a month, which is less than the current monthly fee.
An Amazon spokesperson told T3 that "the reasons for this change are increases to the operating costs of Prime in the UK." But also stressed that this is the first time Amazon has changed the price of Prime in the UK in eight years.
Amazon also issued the following statement:
Prime offers the best of shopping and entertainment, and continues to improve each year. We have increased the number of products available with fast unlimited Prime delivery, recently added ultra-fast fresh grocery delivery, and have significantly expanded our high-quality digital entertainment, including TV, movies, music, games, and books. Prime Video has tripled the number of Amazon Originals since 2018 alone, rolling out new series and movies such as The Boys and The Terminal List, plus locally-produced originals such as Clarkson’s Farm, Backstage With Katherine Ryan, Totems, Jack Reacher, LOL: Last One Laughing, as well as adding access to Premier League football and Autumn Nations rugby in the UK. With increased inflation and operating costs in the UK continuing to rise, we will change the price of Prime by £1 from £7.99 to £8.99/month, and the annual membership from £79 to £95 per year. This new price will apply on or after 15 September 2022 on the date of a Prime member’s next renewal. Customers can view the details of their next renewal date, switch to an annual plan (at least £12 saving over one year versus monthly payments) or cancel their membership by visiting amazon.co.uk/managePrime (opens in new tab). This is the first time Amazon has changed the price of Prime in the UK since 2014, and we will keep working to ensure Prime offers exceptional value for members.