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‘Petflation’ Is Here: Price Increases Hit 8.1% in April

The inflation rate grew in all segments except supplies.

Published

2 years ago

May 18, 2022

PETS+ Staff

“Petflation” ⁠— meaning inflation in the pet products and services sector ⁠— is here, with April prices spiking 8.1 percent versus the same month a year ago, according to a new report from John Gibbons, the Pet Business Professor.

That was close to the overall U.S. inflation rate. In April the Consumer Price Index was up 8.3 percent compared to April 2021.

Previously, petflation had trailed overall inflation, Gibbons noted. Total pet prices were up 4.1 percent in December 2021 compared with December 2020, versus an overall CPI increase of 7.0 percent.

In a blog post, Gibbons outlines the specific situation for various segments of the pet industry, including food, supplies, services and veterinary.

In April, the inflation rate grew in all segments except supplies, he noted.

Read the full report here.

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