U.S. pharmaceutical firms Pfizer and Moderna have raised the prices of their COVID-19 vaccines in their latest supply contracts in the European Union.

According to foreign media on Sunday, Pfizer and Moderna raised the prices by 25 percent and ten percent, respectively, in their latest EU contracts. 

The price for a Pfizer shot rose to 19-point-five euros or 26-thousand-700 won, from 15-point-five euros.

The new price of a Moderna vaccine is reportedly 25 U.S. dollars and 50 cents or 29-thousand-400 won, up from 22 dollars and 60 cents. 

The vaccine supply status in the EU and high efficacy of the mRNA vaccines compared to rival vaccines are thought to have contributed to the price hikes.