UPDATE 1 – Amazon is raising Prime prices in Europe as the retailer struggles with costs


(Adds analyst comments, background)

By Jeffrey Dastin

NEW YORK, July 25 (Reuters) – Amazon.com Inc will increase fees for its delivery and streaming service Prime in Europe by up to 43% a year, the online retailer said on Monday to compensate for the higher costs Counter days before reports quarterly financial results.

The price hike Amazon announced for Prime in the United States in February reflects mounting pressure from Wall Street on new chief executive Andy Jassy to shore up earnings as inflation rises and a downturn threatens.

For shoppers in Germany, Amazon’s second largest market after the US, annual Prime membership fees will increase by 30% to €89.90 ($91.88). The retailer’s third-biggest market, the UK, is set to rise 20% to £95 ($114.47) a year, while Amazon sites covering Spain, Italy and France give Prime members between 39% and 43% a year will charge more.

The changes will take effect from September 15th when members join or next…

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