Costco Announces It Will Raise Its Membership Prices

By Jordan-Paige Sudduth Leave a Comment

Inflation has been affecting many industries over the past few years, forcing consumers to pay more for the things they need.

We’re seeing inflation all over the place!

Not only does this affect things like the price of your Disney World trip or the food you’ll eat in the parks, but it also affects you very much outside of the Disney World bubble. If you’re a Costco member, beware that the price of your membership may be changing soon.

Costco’s CFO, Richard Galanti, confirmed during the company’s Q4 earnings call that “an increase in membership prices was inevitable” after being asked if the company could go another year without a hike thanks to inflation-related concerns, according to Today.

©Costco

The CFO went on to say, “We can’t really tell you if it’s in our plans or not. We’ll let you know when we know. We feel good, needless to say, about all the attributes of member loyalty and member growth.” The last time the company increased its prices was back in 2017.

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Currently, a Gold Membership costs $60 a year, while the Executive Membership (which includes 2% reward back on qualifying purchases) is $120 annually. Those prices are each $10 more than what the memberships cost in 2017. Costco also began cracking down on the sharing of cards earlier this summer — now shoppers have to show the back of their cards, which shows their photo, to an employee before checking out, per Today.

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At this time, there’s no update on when this price increase could take effect, so we’ll be sure to keep you updated on this change. Stay tuned to the Disney Food Blog for the latest updates!

Here’s why Disney food unfortunately CAN’T be cheap

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