Amazon is increasing the cost of annual Prime memberships from $99 to $119

Amazon announced today during its quarterly earnings call that the price for its Prime membership is going to increase by about 20 percent for US users. The hike, announced by CFO Brian Olsavsky, will raise a Prime membership from $99 a year to $119, effective May 11th for new members and June 16th for existing ones.

“The value of Prime to customers has never been greater,” Olsavsky said. “And the cost is also high, as we pointed out especially with shipping options and digital benefits...