Sam’s Club raises annual membership fee for the first time in nine years

Starting Oct. 17, fees will increase from $45 to $50 for club members and from $100 to $110 for members of its higher-tier level, “Plus.”

ROLLING MEADOWS, IL - JANUARY 12: A shopping cart sits in the parking lot of a Sam's Club store January 12, 2010 in Rolling Meadows, Illinois. (Photo by Scott Olson/Getty Images) (Scott Olson, 2010 Getty Images)

Walmart-owned Sam’s Club said Wednesday it will raise its annual fees this fall, as the warehouse club’s membership hovers at a record high and inflation-pinched shoppers seek deals on bulk items.

Fees will increase to $50 from $45 for club members and to $110 from $100 for members of its higher-tier level, “Plus,” which includes some additional perks. The changes take effect on Oct. 17.

It marks the first fee hike in nine years for the entry-level membership. Sam’s Club has not raised the price of the “Plus” membership since it debuted in 1999.

That brings Sam’s closer in price to rival Costco, which charges $60 a year for its basic membership and $120 for its higher-tier “Gold” membership.

For more, read the full NBC News article.