I was just charged 10.99 for 20gb for icloud storage. Is that an annual fee?

I Was just charged 10.99 for 20 gb of icloud starage.is that an annual fee?

If you purchased an annual plan before September 10, 2014, your account was upgraded to a new annual plan. And the $10.99 storage plan is for 20GB/year.
As per HT201238.

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