Amazon boosts monthly Prime membership fees by 20 percent

NEW YORK- 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.