The following email was just sent to existing Prime customers.
We are writing to provide you advance notice that the price of your Prime membership will be increasing. The annual rate will be $99 when your membership renews on June 6, 2014.
Even as fuel and transportation costs have increased, the price of Prime has remained the same for nine years. Since 2005, the number of items eligible for unlimited free Two-Day Shipping has grown from one million to over 20 million. We also added unlimited access to over 40,000 movies and TV episodes with Prime Instant Video and a selection of over 500,000 books to borrow from the Kindle Owners' Lending Library.
For more information about your Prime membership, visit our Prime membership page.
The Amazon Prime Team
Amazon was rumored to be considering a price hike for some time. It's also been reported that Amazon is in talks with music labels about launching a streaming music service for Amazon Prime members.