Amazon has announced it will be increasing the price of its Prime delivery and streaming service due to “increased inflation and operating costs”.

It said it will increase the price of Prime from £7.99 each month to £8.99 from September 15 for new customers, or on the date of the customer’s next renewal.

Annual membership will increase from £79 to £95 per year in the UK.

A spokeswoman for the company said: “Prime offers the best of shopping and entertainment, and continues to improve each year.

“We have increased the number of products available with fast, unlimited Prime delivery, recently added ultra-fast fresh grocery delivery, and have significantly expanded our high-quality digital entertainment, including TV, movies, music, games, and books.

The Oldham Times: Prime includes video streaming and free delivery (PA)Prime includes video streaming and free delivery (PA) (Image: PA)

“With increased inflation and operating costs in the UK continuing to rise, we will change the price of Prime.”

This price increase is the first for Prime since 2014, and comes after another streaming service Netflix also put up the prices of its subscription plans.

Prime Video has invested huge swathes of money into original programming such as The Boys, Reacher, Invincible, Goliath, and the upcoming The Lord of the Rings prequel series.

The company is also investing millions into sports rights, having earlier this month secured the rights to show some Champions League matches from 2024, adding to its rights for 20 Premier League games each season.