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Amazon raises monthly Prime membership rate

The monthly membership fee for Amazon Prime rose Friday from $10.99 to $12.99.

Company officials said the annual membership will remain at $99 dollars.

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Monthly customers do not get access to Amazon Video, which costs $8.99 a month.

The last Prime subscription hike came in 2014, when Amazon increased its yearly membership from $79 to $99.

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The e-commerce company did not give a reason for the price increase.

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