Costco to increase membership fees this fall

Costco will raise its annual membership prices in the U.S. and Canada starting Sep. 1.

Costco will raise its annual membership prices in the U.S. and Canada starting Sep. 1.

The increase will affect individual, business, and executive memberships, impacting around 52 million cardholders.

For individual and business memberships, the fee will rise by $5 to $65 per year, while executive memberships will now cost $130, up from $120.

Costco shopper, Ali Hanan, says she prefers the warehouse for its variety of essentials and deals and is okay with the bump in membership cost.

"I can cope with it, I get the deals and also I can easily make returns," says Hanan. "I feel good with it."

Executive members will also see a bump in the maximum amount of rewards that can be claimed, but for some shoppers, it may not be worth the money.

"You know businesses make their decisions, there's no being okay with it or not okay, there's the price and the choice," said Costco shopper, Dave Denike, an executive member. "I don't know if I'll renew, I have to look at the numbers."