Amazon announced today that they are increasing the monthly rate for Prime membership. Previously $10.99, the per-month fee will now be $12.99. The Amazon Prime student rate will also see an increase from $5.49 to $6.49.

The move appears to be Amazon’s attempt to encourage supporters to pay annually, as the annual fee will remain $99, and the annual student fee $49. That’s a pretty good deal considering that if you pay monthly, the annual cost will be about $156, or $78 for students.

The increase will go into effect today for new members, while existing members will see an increase after February 18^th.

Do you think the change will have any effect on Amazon’s member base, or will they continue to dominate the online shopping sphere? A study released this month found that Prime users spend $1,300 annually, so chances are, even if they lose a few members, the company won’t be hurting financially.