Amazon raises price of annual Prime membership to $139

amazon prime price increase
Amazon announced a price increase in the U.S. on Thursday, citing "the continued expansion of Prime member benefits as well as the rise in wages and transportation costs." (Ted S. Warren/AP)

Ted S. Warren / Ted S. Warren

Amazon is increasing the cost of its Prime membership service to $139 a year and $14.99 a month.

The company announced the increase — from $119 a year and $12.99 a month — on Thursday, citing “the continued expansion of Prime member benefits as well as the rise in wages and transportation costs.”

For new members, the price change kicks in on Feb. 18, while existing members will see higher prices when their subscription is up for renewal after March 25.