San Francisco: Elon Musk's SpaceX just raised prices for its launch and Starlink internet services because of rising inflation. According to Space News, the company advised customers of its Starlink service March 22 of a price increase for both the service itself as well as the terminal. "The sole purpose of these adjustments is to keep pace with rising inflation," the firm wrote in an email to existing customers. Also ReadMusk projected to become world’s first trillionaire in 2024 The cost of the service, which had been $99 in the US, increased 11 per cent to $110. The terminal, which cost $499 in the US, increased to $549 for those who had already paid a deposit and $599 for new customers, the latter a 20 per cent increase. Starlink customers in other countries have reported getting similar notices of price increases. The company is now charging $1.1 million to deliver 440 pounds (200 kg) of rideshare payload to sun-synchronous orbit and $2,500 for each additional pound beyond that ($5,500 for each additional kg). The previous rideshare prices were $1 million for 200 kg and $5,000 for each additional kg. The starting prices for a Falcon 9 or Falcon Heavy rocket will each increase by about 8 per cent. A Falcon 9 launch will cost $67 million, up from $62 million, and a Falcon Heavy launch will now run $97 million.