Source: Pet Food Industry
Pet industry prices reached record highs across all segments in March 2026, marking the first time this has occurred simultaneously since September 2022. According to data from the U.S. Bureau of Labor Statistics, “petflation” rose to 4.3% year over year, outpacing the national Consumer Price Index (CPI) of 3.3% and showing the sharpest monthly increase since 2023.
Pet food prices increased modestly but hit record levels, continuing a volatile trend after sharp gains in 2022–2023. Pet supplies shifted from deflation to 3.1% inflation, contributing significantly to the overall rise. Veterinary services remain the largest long-term cost driver, with prices up 55.5% since 2019.
Despite rising costs, consumers have largely maintained spending, especially on essential services. However, experts expect shifts ahead, including reduced discretionary purchases, fewer vet visits, and increased demand for online shopping and private-label products as inflation pressures persist.