Dollar Tree hiking prices to $1.25

Changes in place by beginning of 2022, company says

In this Feb. 25, 2021 photo, Dollar Tree store logos indicating that everything in the store is for $1 are promoted on its storefront window in Jackson, Miss. Dollar Tree, the national chain of stores that promises everything from a buck, will begin introducing items on its shelves that will exceed $1. The company said, Wednesday, Sept. 29, that it's responding to customer requests and said pushing the $1 barrier will allow for a better mix of products. (AP Photo/Rogelio V. Solis) (Rogelio V. Solis, Copyright 2021. The Associated Press. All rights reserved)

It’s known for its $1 price tag for all products but not anymore.

The bargain chain Dollar Tree is raising its prices for the first time in three decades, and surprisingly it’s not due to inflation.

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By the beginning of 2022, items will be $1.25.

Dollar Tree says the price hike will give them more flexibility to bring back customer favorites and also introduce new items. The company also says the increase will help with freight and distribution costs as well as wage increases.

Dollar Tree has sold products for a buck for 35 years.

It was the last of the major dollar store chains to sell everything for a $1.