If you're an Amazon Prime member, this news is going to hurt your wallet!
USA Today is reporting that Amazon will soon start charging Prime Members $119 a year. That's up from the $99 members currently pay.
The new pricing, which equates to a 20 percent hike, will go into effect in June.
The price increase was announced earlier today by Amazon's chief financial officer.
A 20 percent increase might sound steep, however, it's important to note that the company has not raised the yearly Prime membership rates in four years.
While the cost did increase for members who choose to pay monthly earlier this year, people on the yearly plan seemed to catch a break -- Until now.
Of course, no one likes to pay more for things, but at $119, Amazon is full of so many perks, it's definitely worth the money.
How do you feel about the rate increase?
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