(WAND) - Dollar Tree has started to raise its baseline price to $1.25 from a previous standard $1 amount. 

Inflation was named as the cause by company president and CEO Michael Witynski. He believes customers will roll with the punches when it comes to the price change. 

“Our Dollar Tree pricing tests have demonstrated broad consumer acceptance of the new price point and excitement about the additional offerings and extreme value we will be able to provide,” a third-quarter company earnings statement from Witynski said. “Accordingly, we have begun rolling out the $1.25 price point at all Dollar Tree stores nationwide.”

Neil Saunders, an analyst for GlobalData Retail, said he believes loyal customers understand national inflation and supply chain issues and will likely stay with Dollar Tree even with the slightly higher price. 

Dollar Tree officials said they can offer products they couldn't before without a strict following of a $1 cap. 

The company name is not likely to change. 

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