Amazon Increases Monthly Prime Membership Rate to $12.99

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Amazon has increased its monthly Prime membership fee from $10.99 to $12.99, an increase of 18 percent.

A view of Classic Cars during the Amazon Prime Video celebration of The Grand Tour with a VIP Fan Experience at Classic Car Club Manhattan on November 22, 2016 in New York City. (Credit: Brian Ach/Getty Images for Amazon)

A view of Classic Cars during the Amazon Prime Video celebration of The Grand Tour with a VIP Fan Experience at Classic Car Club Manhattan on November 22, 2016 in New York City. (Credit: Brian Ach/Getty Images for Amazon)

Amazon first announced the monthly payment option less than two years ago. This is the first price increase since the monthly option was introduced.

The annual membership option, which requires customers to pay a one-time fee of $99, is not increasing at this time, according to Recode.

Amazon's Prime program for students is increasing from $5.49 to $6.49. The standalone Prime Video membership, which does not include shipping benefits, will remain at $8.99.

The new prices are now live on the Amazon Prime subscription page.

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