Company officials say Dollar Tree will raise the maximum price of items in its stores nationwide to $7 by the end of the year.

“This year, we expect to expand our multi-price assortment by over 300 items at price points ranging from $1.50 to $7,” said Dollar Tree CEO Rick Dreiling.

The increased price cap will allow for a wider range of choices such as food and snacks, beverages, pet care personal care, and more, according to the discount retail giant.

“Over time you will also see us fully integrate multi-price merchandise more into our stores, so our shoppers will find $5 bags of dog food next to our traditional $1.25 pet treats and toys. And our $3 bags of candy will be found in the candy aisle,” Dreiling said. “This is the next exciting chapter of the Dollar Tree value story. New items, more choices, and more savings.”

In 2021, the company announced an increase in its base price from $1 to $1.25. At the time, the discount retailer said the price hike decision was permanent and was not a reaction to short-term or transitory market conditions.