Amazon Prime gets price hike

Amazon is raising the monthly membership fee for its fast shipping and media-streaming service.

The online giant had raised Amazon Prime’s monthly membership fee from $10.99 per month to $12.99 per month. (The student rate has risen from $5.49 per month to $6.49.) But the cost remains unchanged at $99 for customers who pay for Prime on an annual basis ($49 for students).

The monthly increase is immediate for new members. It goes into effect for existing monthly Prime subscribers after Feb. 18.

Amazon introduced the monthly subscription plan for Prime in 2016 as a way to attract new members, including lower-income ones, who weren’t interested in joining up and paying for an entire year.

Amazon has historically not revealed the number of Prime members. In October, Consumer Intelligence Research Partners estimated that Amazon had 90 million Prime members.