Source: Pet Business Professor
The January 2026 Petflation report shows total pet prices reached a new record high, rising 0.3% from December, with year-over-year pet inflation at 3.4%—about 42% higher than the overall U.S. CPI of 2.4%. While national inflation has cooled significantly since its 9.1% peak in June 2022, pet-related costs remain elevated, particularly in services. Veterinary services led with a 7.4% annual increase and have risen 56.2% since 2019. Pet services also climbed 5.7% year over year. Pet food prices rose 0.8% monthly but remain relatively stable annually (+1.4%), while pet supplies fell 1.0% in January with minimal annual inflation (+0.2%).
Since 2019, total pet prices are up 33%, with most of the increase occurring during the 2021–2026 surge. Services are driving current inflation, both nationally and in pet categories. Analysts expect continued consumer shifts toward online purchasing, private labels, and reduced discretionary spending as cumulative inflation pressures pet owners’ budgets.