U.S. shoppers will start to see prices rise at the end of May and certainly in June, Walmart's Chief Financial Officer John David Rainey said in a CNBC interview. On a post-earnings call with analysts, he said the retailer would also have to cut back on orders as it considers price elasticity.

Retailers including Walmart and Mattel are raising prices to cover extra costs imposed by President Trump's tariffs on foreign imports.

Walmart is feeling the pressure of President Donald Trump’s tariffs. The world’s largest retailer announced that price hikes are coming later this month as it navigates higher expenses. Walmart shoppers in the U.