Amazon has announced that the annual cost of Prime membership will be increasing from $119 to $139. This is only the third time that Amazon has ever increased the price of Prime, with the last increase being 4 years ago when the price went from $99 to $119 and the first increase being 4 years before that when it went from $79 to $99. The price increase will go into effect on February 18th for new members, so if you were thinking of signing up for Prime membership, better do it before then to get your first year at the cheaper price. The renewal price for current members will increase on March 25th. The monthly cost for Prime will increase from $12.99 to $14.99 per month on the same dates.