On Sept. 1, Costco will raise its annual membership fees, the warehouse club’s first increase since 2017.

Costco’s Gold Star, Business, and Business add-on members in the United States and Canada will be charged $65 a year, $5 more than the current $60. Executive membership will cost $130 a year, up $10.

Traditionally, Costco has hiked membership fees every five years. However, in 2022, CEO Craig Jelinek said that, given inflation, it was not “the right time” for an increase. (He also declined to raise the price of Costco’s signature $1.50 hot dog and soda.)

While the store is mostly known for bulk food, it also does a substantial jewelry business and began offering gold bars last year.

Costco currently operates 882 locations—609 in the United States, 108 in Canada, 40 in Mexico, 33 in Japan, 29 in the United Kingdom, 18 in Korea, 15 in Australia, 14 in Taiwan, seven in China, four in Spain, two in France, and one each in Iceland, New Zealand, and Sweden.

(Photo courtesy of Costco)

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