Consumers have been pinching pennies since skyrocketing inflation in 2022 took a toll on their wallets, and worries that prices may rise further in the wake of newly instituted tariffs have sparked considerable debate.

Walmart warns of potential price hikes due to tariffs, despite strong Q1 results and e-commerce growth. The retailer remains optimistic about future sales.

Treasury Secretary Scott Bessent suggested critics of President Donald Trump's tariff plan should be open to cutting taxes, calling them “deflationary.”