Online retail giant Amazon is raising prices for its Prime subscription in the UK by an average of 40 percent a year over the next three years

Amazon will hike prices in Spain and Italy by 39 percent annually. The company’s second-biggest market, Germany, saw an annual 30 percent rise.

This is the first Amazon Prime increase in the UK since 2014. Market research firm Kantar says more than 50 percent of households have an Amazon Prime subscription.

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