Costco raises annual membership fees for 1st time in 7 years amid rising inflation

NEW YORK -- Heads up for consumers: the cost of admission is expanding for Costco members.

Starting connected September 1, customers volition spot a $5-10 summation depending connected their rank plan. The alteration applies to some existent memberships and renewals.

It is the archetypal clip successful 7 years that the wholesale concatenation is expanding its rank fee.

According to Costco, the terms alteration volition "help to offset operational costs truthful we tin support our prices low."

Despite rising ostentation successful caller years, rank prices had remained steady.

The interest summation comes aft the institution announced it would crack down connected paper sharing by requiring shoppers to scan their rank cards to participate stores.

"Over the coming months, rank scanning devices volition beryllium utilized astatine the entranceway doorway of your section warehouse," Costco said successful a connection online. "Once deployed, anterior to entering, each members indispensable scan their carnal oregon integer rank paper by placing the barcode oregon QR Code against the scanner."

Despite the rank interest increase, Costco says its memberships volition proceed to see 1 escaped paper for a designated idiosyncratic successful the aforesaid household who is astatine slightest 16 years old.

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