LOS ANGELES (CBS) — The annual price of a Costco membership is going up 10 percent.

Starting in November, the cost of an annual membership at the big-box retailer will jump from $50 to $55.

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Executive memberships will also go up by $10.

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The company blames the rising cost of groceries and clothing for the increase.

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Costco operates nearly 600 warehouse stores, about two-thirds of which are in the United States.