by Hannah Knudsen
Breitbart.com
Walmart is warning it plans to raise prices due to tariffs, despite the fact April’s Consumer Price Index (CPI) showing President Donald Trump’s tariffs did not affect consumer prices.
Walmart CEO Doug McMillon issued the update during an earnings call on Thursday, stating that they will try to keep prices “low as possible,” but the reality is, they are unable to absorb all of the costs due to tariffs.
“But given the magnitude of the tariffs, even at the reduced levels announced this week, we aren’t able to absorb all the pressure given the reality of narrow retail margins,” McMillon stated, adding, “The higher tariffs will result in higher prices.”
According to reports, consumers can expect to see the higher prices this month.