Amazon will add a 5% surcharge for fuel and inflation
New York (CNN Business) – Amazon said Wednesday that for the first time in the company’s history it will charge sellers additional fees for fuel and economic inflation 5%.
The e-commerce giant said the new fees will start on April 28 and will be imposed because inflation has worsened significantly in recent months.
“In 2022, we expect to return to normal life as COVID-19 restrictions ease around the world, but fuel and inflation present more challenges,” Amazon wrote in a memo provided to CNN by the company. “It is not clear whether these inflationary costs will rise or fall, or how long they will last, rather than changing the permanent interest rate.”
Amazon spokesperson Patrick Graham told CNN that the additional fees apply only to fees paid by sellers who choose to use Amazon Fulfillment Services, which includes storage, packaging and shipping of products. Other sellers who do not use FBA will not be affected. The surcharge news was first reported by Bloomberg News.
The rate increase is the latest example of how companies are reacting to rising energy and other costs. Uber and Lyft recently started adding temporary fuel surcharges to flights, and airlines have increased airfares.
Amazon’s increased fees for sellers may translate to higher costs for consumers, as companies seek to pass on increased expenses to their customers.
The Bureau of Labor Statistics said on Wednesday that suppliers raised prices sharply by 11.2% in March, the highest percentage on record dating back to 2010. Consumer prices It rose 8.5% year-over-year in March, the largest jump since 1981.
Amazon said in its memo that the company tried to reduce the impact of inflation.
“Like many, we have seen significant cost increases and have absorbed them, where possible, to reduce the impact on our selling partners,” Amazon said. “When we raised prices, we focused on addressing ongoing costs and making sure our rates were competitive with those charged by other service providers.”