ISSAQUAH, Wash. — Costco is raising its basic membership fee for the first time since 2017, the company announced Wednesday.
Starting September 1, the annual cost will increase from $60 to $65, or 8.3%. A premium membership will also rise from $120 to $130.
Additionally, the maximum annual 2% reward for executive members will increase from $1,000 to $1,250.
This change will impact about 52 million memberships.
While Costco typically raises membership fees every five years, company executives delayed this increase due to high inflation.
Despite the fee increase, Costco’s popular $1.50 hot dog combo will remain unchanged.
The company has offered this deal since 1985 and recently restricted access to its food court to members only to ensure they benefit from the discounted prices.
Costco operates 882 warehouses worldwide, including 609 in the United States and Puerto Rico.