Amazon is raising the price of its annual Prime membership for the first time since 2014. Instead of $99 per year, the coveted membership will jump to $119 a year, CNN Money reports. According to Amazon CFO Brian Olsavsky, the price increase is due to the increased value the company has added to the membership over the years. We're guessing this has something to do with the news that you can now have Amazon packages delivered straight into the trunk of your car, among other recent upgrades. Fortunately, the change doesn't go into effect until May 11 and won't impact renewals until June 16, so there's still time to take advantage of all the Amazon Prime perks now even if this price jump makes you consider not renewing for another year.
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