Prices at 2,000 Dollar Tree stores will go up in December, with the rest following later next year.

The next time you shop at a Dollar Tree store, it's going to cost you 25% more. Effective immediately, the price per item at the discount store is being raised to $1.25. The Virginia-based discount store made the announcement during an earnings call on November 23. Some of the company’s stores have already hiked prices with all stores planning to make the switch by March of 2022.

The new pricing will be permanent and is based on positive feedback from stores raised stores back in September. Over 90% of shoppers surveyed said they would return to Dollar Tree and pay the higher price as long as they could get the same products.

“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, said Michael Witynski, President and Chief Executive Officer. “Accordingly, we have begun rolling out the $1.25 price point at all Dollar Tree stores nationwide. The continuing expansion of our key strategic initiatives, including Dollar Tree Plus, Combo Stores and the H2 format, are all going well and on, or ahead of, plan.”

The higher price point will allow Dollar Tree to bring back popular items that were too expensive to be sold under the dollar model while helping them curb higher transportation costs. Customers at some stores may see everyday items as high as $1.50, along with a section called Dollar Tree Plus that offers premium items sold for as much as $5.

Dollar Tree also owns Family Dollar, a retail store that sells groceries, apparel, electronics, and health items that are all under $10.

What do you think of the price increase? Will it deter you from shopping at Dollar Tree in the future? Comment below.