From September, customers who use Amazon Prime in the UK and Ireland will pay £8.99 per month.

Amazon is increasing the price of its annual Prime membership by up to 43pc across Europe in response to rising costs.

Following a price hike in the US in February, the e-commerce giant is now revising its European prices following “increased inflation and operating costs”, a spokesperson told media outlets ahead of its Q2 earnings call.

“We have increased the number of products available with fast unlimited Prime delivery, recently added ultra-fast fresh grocery delivery and have significantly expanded our high-quality digital entertainment including TV, movies, music, games and books,” a spokesperson said, according to The Guardian.

For Amazon Prime subscribers in the UK, there will be a 20pc rise in the annual cost from £79 to £95. A monthly subscription is now £1 more than it used to be, at £8.99 per month.

Customers in Ireland also pay this sterling price and have been informed of fee changes.

German customers will pay 30pc more for an annual Prime membership. France has seen the highest hike at 43pc, while prices in Spain and Italy have increased too.

However, the company said that the price hike will be accompanied by services such as faster delivery and new online content in some markets.

Annual Prime membership costs in Europe have increased significantly more than the 17pc hike in the US in February.

An Amazon spokesperson noted that this is the first time since 2014 the company has raised the cost of Prime in the UK, according to the Financial Times.

Amazon recently suffered its first quarterly loss since 2015 after experiencing a comedown following the massive surge in e-commerce that took place during the Covid-19 pandemic.

In the first quarter of 2022, the tech giant lost $3.8bn compared to its profit of $8.1bn during the same period last year. Amazon’s next quarterly earnings call is set for 28 July.

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