Amazon hikes Prime membership prices by up to 43% in Europe as inflation bites
Summary
Amazon is raising prices for its Prime subscription service in the U.K. and across Europe as the e-commerce giant grapples with the effects of rising inflation. In February, Amazon said it would raise the price of its annual Prime membership for Americans to $139 from $119, the first such increase to its discount loyalty program in the U.S. since 2018. Amazon CEO Andy Jassy has been grappling with the twin challenges of high costs and slowing e-commerce sales. The company has moved to shed some of that warehouse space, and recently paused construction on office buildings in Nashville, and the Seattle suburb of Bellevue, according to The Wall Street Journal. Facing rising costs, the company in April added a 5% fuel and inflation surcharge to the fees it charges sellers who use its fulfillment services.