The price of maintaining your family dog have gone up dramatically since 2019 (pre-pandemic). “Petflation” has struck after a decade or so of 
relatively steady reasonable prices for dog food, supplies and services.
The good news is that, so far, as of January 2023, it has leveled off somewhat to a slower pace vs 2022.
Petflation slowed slightly from December but remains at a record rate!
According to Pet Business Professor, John Gibbons, the year-over-year (YOY) increases in the monthly Consumer Price Index (CPI) are larger than have been seen in decades. January prices grew 0.8 percent from December and the CPI was still up +6.4 percent vs. 2022, but down from +6.5 percent last month. The grocery price surge also slowed but they’re still up 11.3 percent over 2022.Â
Charts & Figures
Visuals help to show the impact of changes over time. Below, a rolling 24-month tracking of the CPI for all pet segments and the national CPI. The base number will be pre-pandemic December 2019 in this and future reports, which will facilitate comparisons.
The various elements show dramatically where your money has gone. It is also interesting to see pet supplies, food and services compared to the Consumer Price Index (CPI). (Click Pic to enlarge)
Here is a different view (click pic to enlarge)
So if it seemed that more of your household budget was being spent on your family canines, you are so right! Â Petflation is real!
The U.S. Bureau of Labor Statistics recently decided to update the CPI annually rather than every two years based upon each expenditure’s share of total expenditures. Professor Gibbons worked with their representatives to update the CPI of his specially created aggregates. During his conversations with them, they noted that pet expenditures had one of the biggest share gains of any group. Apparently, pet parents are just reallocating their spending to prioritize their fur babies’ needs.
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