Amazon hikes Prime membership to £95, the first rise since 2014

Amazon has announced that it will increase the price of its Prime delivery and streaming due to “increased inflation and operating costs.”

The cost of Prime for monthly subscribers will rise from £7.99 each month to £8.99, while its annual membership will increase from £79 to £95 per year.

The Prime price increase is Amazon’s first since 2014 and follows similar moves by its streaming competitors.

The new rates will kick in from September 15 for new customers, or on the date of your next renewal.

Amazon Prime offers free next-day delivery on thousands of items, along with TV and movie streaming and live sport events.

In an email to customers overnight Amazon said: “We continue to focus on making Prime even more valuable for members.”

“This is the first time we have changed the price of Prime in the UK since 2014.”

“During this time, we have significantly increased the number of products available with unlimited, fast Prime delivery; added and expanded ultra-fast fresh grocery delivery; and added more high-quality digital entertainment, including TV, movies, music, games, and books.”

“Prime Video in particular has increased the number of TV series and movies on offer, including Amazon Originals, as well as live sports coverage, such as the Premier League and Autumn Nations Series.”

Nick Baker, a streaming and TV expert at the price comparison website Uswitch.com, said: “This price rise is a blow to customers at a time when money is tight for millions of people across the country.”

“While a monthly increase from £7.99 to £8.99 a month might not seem like a dramatic rise, the annual hike from £79 to £95 could deter subscribers from renewing — especially with many consumers keen to rein in their online shopping habits at the same time.”

“If you feel you aren’t getting value for money from your monthly Amazon Prime subscription, you can cancel penalty-free. If you paid for the year in advance, log into your Amazon account to check when it’s set to automatically renew — if you cancel now your membership will run until this date.”

Reena Sewraz, Which? Money Expert, said:

“Millions of us pay for subscription services each month, but the costs can quickly pile up, and the pressure of the cost of living crisis means many customers will be reevaluating whether they can afford the added expense.”

“However, there are many ways to save on a range of subscriptions. If you live with others and have multiple subscriptions for the same services, it’s worth sharing a subscription to cut the cost.”

“Paying annually rather than monthly is often cheaper, and you could even rotate your monthly subscriptions, rather than paying for more than one similar service at a time.”