Creative Cloud-Am I tied in for another year after initial year's membership if I accept the higher?

Am I tied in for another year after initial year's membership if I accept the higher rate? or can I leave at any point in year 2?

Hi Bev,
Fully appreciate that the price will go up. Just slightly concerned that I am "tied in" for another year at the higher rate.
This what I received through this morning:
We hope you've been making the most of everything Creative Cloud has to offer. With the next generation of creative apps like Adobe Photoshop® CC, Illustrator® CC and more; great training resources; and more efficient ways to collaborate and share with the creative community, you have everything you need to create your greatest work. Only in Creative Cloud.
To make sure you can continue to use your favorite tools and services without interruption and take full advantage of everything that's new, your membership will automatically renew on 01-September-2013 (PT) at the annual plan price of 38.11 GBP per month, plus applicable Tax/VAT. You don't have to do anything to renew.
If you'd like to review your membership details or update your renewal settings, simply <http://www.adobe.com/go/cc_manage_act?trackingid=KFKNB> log in to your account.
Thanks for being part of Creative Cloud.
The Adobe Creative Cloud Team

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Creative Cloud-Am I tied in for another year after initial year's membership if I accept the higher?

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