The world’s largest retailer confirms consumers should prepare for higher prices on a range of goods as import costs accelerate. Expect other retailers to follow suit.

The Census Bureau on Thursday reported that consumer spending for retail and food services softened last month, which doesn’t bode well for future growth.

Walmart, the world’s largest retailer, warned that is not immune from President Donald Trump’s tariffs. It plans to raise prices on some items as Trump’s global trade war sends the company’s costs higher.