Amazon using inflation excuse to hike fees

Amazon is taking a step to offset its rising costs, announcing Wednesday it will add a 5% "fuel and inflation surcharge" to fees it charges third-party sellers who use the e-commerce giant's fulfillment services.

The Seattle-based company said on its website that the added fees, which take effect April 28, are "subject to change" and will apply to both apparel and non-apparel items.

In a notice sent to sellers Wednesday, the company said its costs had gone up since the beginning of the COVID-19 pandemic due to increases in hourly wages, the hiring of workers and construction of more warehouses.

Federal data released Tuesday showed inflation jumped 8.5% in March, its fastest pace in more than 40 years. Gasoline prices have rocketed 48% in the past 12 months.

Amazon's third-party marketplace, where independent merchants list millions of their products, is a huge part of its business. It has about 2 million sellers, and more than half the goods sold on Amazon.com come from these sellers.