Dollar Tree is raising prices as wealthier shoppers shop

Discount giant Dollar Tree is raising prices again, with some items as high as $7. The reason stems from a combination of inflation and an influx of higher-income customers who can better afford the items. The increase is due to inflation and the influx of new customers.

Dollar Tree customers will start to see some items carrying $7 price tags on the shelves later this year. CEO Rick Dreiling says some items will carry price tags up to $7. The discount retailer will introduce some items with price tags at its stores this year, he says.

Dollar Tree will raise its price cap to $7 as it experiences influx of shoppers earning more than $125,000 a year. Company officials say wealthier shoppers roam the aisles. Company says it is experiencing an influx of wealthier shoppers in its stores. The price cap will go up to $6 per person, company officials said.