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Report: Amazon to raise price of monthly Prime subscription

Bezos
Image: David Ryder / Getty Images

Amazon will announce an increase in the price of monthly Prime memberships from $10.99 to $12.99 on Friday, according to a report from Recode.

Why it matters: Amazon first introduced the monthly payment option two years ago as "a way to attract lower-income customers," but a spokesman said that the growing list of benefits has increased the value of the service.