Going into effect on  May 11, 2018 for all new customers, Amazon will be raising the yearly price of Prime from $99 to $119.  This increase of $20 per year will impact existing customers starting on June 16, 2018.

The last time Amazon Prime’s yearly price increased was four years ago, specifically April 2014. The price rose from $79 per year to $99. The number of Amazon Prime subscribers around the world recently surpassed 100 million people.

Earlier this year, Amazon raised the price of monthly Prime from $11-a-month to $13-a-month. The new yearly cost at $119 is still cheaper than month-to-month service, which would total over $150 per year.

Tip: You can share your Amazon Prime account with other members of your household. Specifically, Amazon Households can contain up to ten members. That includes two adults, up to four teen profiles (available for ages 13 through 17) and up to four child profiles (suggested for ages 12 and under).

Here are some of the benefits of an Amazon Prime account:

• Free 2-day shipping on Amazon’s catalog of products (includes free release-date delivery / two-hour delivery when available)
• Access to Amazon Instant Video for streaming of TV Shows / Movies / Original Content.
• 1 free book rental from the Kindle Lending Library each month.
• 30-minute head start access to Amazon Lightning Deals during November.
• Unlimited streaming music on Amazon Prime Music.
• Unlimited Cloud storage for photos using Prime Photos.
• Free Video Games from Twitch each month
• 5 percent back on all Whole Foods purchases (requires Amazon Prime credit card)

Amazon is raising the price of Prime to $119 a year, previously $99