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Dollar Tree to hike prices for first time ever as inflation soars and the supply chain continues to see disruptions

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Scott Olson/Getty Images

In a historic move, America's longstanding one-dollar variety store, Dollar Tree, will hike its prices to offset costs associated with global supply chain disruptions, inflation, and other economic challenges brought about by the coronavirus pandemic.

The retailer announced in a press release Tuesday that for the first time in its 35-year history it would be raising the cost of most of its products from $1.00 to $1.25.

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