Amazon to raise price of their Prime service by nearly 20%
You want inflation? Amazon can create inflation too.
Amazon has announced that they will raise the monthly cost of Amazon Prime from $10.99 to $12.99 per month. What's two bucks? Not much right? Well it represents an 18.2% increase. That's inflation.
When you have a ton of subscribers to your Prime service (like Amazon) that is more revenues for the company.
Of course the cost of the Prime customers may be more than what they thought. Hence the rise, but since when does Amazon have to care about profitability anyway?
Amazon stock is up $22 in premarket trading.
I don't know about you, but I will keep my subscription. I also own some of their stock too. Amazon earnings are scheduled to come out on February 1.
