A consequence of Biden-flation that will resonate with most Americans is Dollar Tree’s decision to raise all items to above $1 after decades of guaranteeing the $1 bargain.
Proving that the value of the dollar is more minimal now than ever, customers will no longer be able to buy basic kitchen supplies, kids’ toys, food items, and other Dollar Tree finds for one whole dollar.
The price point will now rise just above the $1 mark as Dollar Tree intends to increase prices to as much as $1.50 in some cases.
“We recognize the need to make adjustments in the current economic environment,” Chief Executive Michael Witynski said in a statement obtained by the Associated Press, adding that the cost increases are caused by rising minimum wage as well as supply-chain problems that began festering under Biden.
The silver lining for customers in this change is that Dollar Trees will now have an opportunity to expand its store selection. With a higher price point comes more options that customers will now be able to choose from.
“Testing additional price points above $1 for Dollar Tree product will enable us over time to expand our assortments, introduce new products and meet more of our customers’ everyday needs,” Witynski added.
However, that’s not to say the company will take liberties in pushing the limits of customers’ pocketbooks.
The CEO assured customers, “We will continue to be fiercely protective of that promise, regardless of the price point, whether it is $1.00, $1.25, $1.50.”
When even Dollar Tree has to raise prices above $1 to keep up with inflation caused and unmitigated by the Biden administration, it’s a sign that America’s economy is going down the wrong path.
Rising prices in stores mean increased spending for consumers, many of whom will not be able to afford it.
If the Biden administration does not take quick action to curb inflation, even more Americans could end up struggling to make ends meet despite higher-than-ever minimum wage.