The economics of cloud versus on-prem continue to tip further and further towards to the cloud. Amazon has announced a price cut to EC2 Reserved Instances (RI) with upfront fees three-year term for C4, M4, R4, I3, P2, X1, and T2 Standard RIs dropped and price reductions on non-RIs as well.
The price cuts for No Upfront Reserved Instances range from 9% to 17% depending on the specific service and region. Reductions for Convertible Reserved Instances for Linux range between 5% and 21%.
The cuts apply across all regions according to AWS with the company saying this is their 61st price reduction.