Costco Wholesale Corp. is increasing its membership fees for the first time since 2017, with a basic membership now costing $65 a year, up from $60. This 8% price hike will also affect the premium membership, which will increase to $130 from $120, affecting approximately 52 million memberships in the US and Canada. The decision comes as Costco's shares have risen 34% this year, outperforming the S&P 500 Index. Analysts have been anticipating this move, citing Costco's strong renewal rates and customer loyalty. The company's customer base, which is more affluent, has been less impacted by economic downturns. Costco's membership income is crucial for its operations, allowing the company to invest in growth and keep prices low. The fee increase is seen as a necessary step for Costco's continued success in the competitive retail landscape.