Walmart ($WMT@US) Chief Financial Officer Brett Biggs said shoppers haven’t changed shopping habits yet, but they are paying attention to rising prices. “We haven’t seen any marked changes at this point in how they’re shopping,” Biggs said, “but we do know, we’ve seen and we heard through our own studies that people are certainly focused on inflation and they’re seeing that in their daily lives.” Inflation is driving up costs of food, fuel, vehicles, and other everyday products. Investors are watching to see if and when Americans’ spending patterns change. When consumers focus on price, they tend to shop more at Walmart. Walmart’s fiscal fourth-quarter earnings topped Wall Street’s expectations, and the company reiterated its forecast for the year. Prices are rising on many major consumer-goods brands sold on Walmart shelves like PepsiCo ($PEP@US), Coca-Cola ($KO@US), and Procter & Gamble ($PG@US)— and more increases may be on the way. Walmart holds frequent negotiations with brands and leans on its long relationships with them to hold down prices.