Costco raises annual membership fees amid rising inflation

NEW YORK — Starting on Sunday, the cost of admission to Costco is increasing for members.

For the first time in seven years, the wholesale chain is increasing its membership fee.

Customers will see a five- to 10-dollar annual increase depending on the plan. The change applies to both current memberships and renewals.

Despite rising inflation in recent years, membership prices had remained steady.

The company also began cracking down on card sharing to encourage more people to sign up for its service.