- Facing inflation and rising costs, Amazon began telling customers it will increase the price of Prime in Europe.
- For some customers, that translates to an annual increase of up to 43%, Reuters reports.
- The change comes just months after Amazon raised the cost of Prime by $20 in the US.
Come September, Amazon customers in the UK and across Europe will see the price of their Prime membership increase — in some cases by up to 43% a year.
According to Reuters, the price of a Prime membership in the UK will jump from £79 to £95, a 20% increase. In France, the price is increasing by 43%, from €49 per year to €69.90. The increase will go into effect Sept. 15, according to emails to customers viewed by Reuters.
In Spain and Italy, the price will jump from €36 to €49.90, a 39% annual increase, the Verge reported. Germany will see a 30% price hike, with the cost of a membership changing from €69 to €89.90 annually.
According to Reuters, the company announced the change overnight, citing inflation concerns, rising operation costs, and a looming economic downturn. Wall Street insiders have long been warning that the price of Prime would increase in 2022.
A spokesperson for Amazon didn't immediately respond to Insider's request for comment.
Six months ago, the US was the first to see those changes.
In February, Amazon increased the cost of a Prime membership in the US, raising the price by $20 — from $119 to $139 annually — citing added perks and rising costs as the reasons behind the increase. Prior to February, the e-commerce company had only raised the price twice before: in 2014 and again in 2018.
The increases come just before Amazon reports its second quarter earnings on Thursday. In April, Amazon posted its first quarterly losses since 2015, wiping more than $160 billion off the company's market value as Wall Street reacted to the miss.