Amazon boosts monthly Prime membership fees by 20 percent

Amazon boosts monthly Prime membership fees by 20 percent

Amazon is boosting the price of its monthly Prime membership fees for new and existing members by nearly 20 percent.The online retailer says its annual membership fee of $99 will not change.Starting Friday, new members will pay $12.99 a month, up from $10.99. Qualifying college students will pay $6.49 a month, up from $5.49.Amazon.com Inc. says existing monthly members will start paying the higher fees next month.