Amazon hikes Prime subscription prices in Europe amid rising inflation

Amazon Inc (NASDAQ: AMZN) on Tuesday said it is raising prices of its Prime subscription service in the UK and across Europe due to the soaring inflation.

In the UK, the company will hike prices by 20% to 95 euros, compared to prior price of 79 euros. The new prices will be applicable from September 15.

The price of annual Prime membership will increase 43% in France to 69.90 euros from 49 euros while in Germany the price will be hiked by 30% to 89.90 euros, up from 69 euros.

Amazon, which is scheduled to report second-quarter earnings on Thursday, blamed the price hikes on inflation.