Three months after stating the company had no plans to increase prices due to tariffs, Home Depot has backtracked. On Monday, the national home improvement retail chain confirmed to the Wall Street Journal that it plans some “modest price movement” as the tariffs increase.

The home improvement chain is the latest to consider raising prices in response to the Trump administration's trade policies.

Home Depot kept its annual forecasts intact despite posting muted quarterly results on Tuesday, but said some products may see small price hikes due to tariffs after previously suggesting they would generally not change.

Home Depot's Q2 earnings fell slightly short of Wall Street's target, but the company announced some news that has potentially huge implications.

Trump tariffs hit consumer goods, Home Depot price hikes Home Depot says it will be raising some prices as a result of tariffs.

In Q1, Home Depot experienced solid demand for smaller projects and seasonal activities; however, high interest rates deterred many consumers

A sluggish housing market and high inflation have hurt businesses at these home improvement product retailers.