According to the U.S. Bureau of Labor Statistics, prices for pets, pet products and services were 68.59% higher in 2018 versus 1998.
Between 1998 and 2018: Pets, pet products and services experienced an average inflation rate of 2.65% per year. This rate of change indicates significant inflation. In other words, pets, pet products and services costing $20 in the year 1998 would cost $33.72 in 2018 for an equivalent purchase. Compared to the overall inflation rate of 2.15% during this same period, inflation for pets, pet products and services was similar.
In the year 1998: Pricing changed by 1.48%, below the average yearly change for pets, pet products and services during the 1998-2018 time period. Compared to inflation for all items in 1998 (1.55%), price inflation for pets, pet products and services was lower.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Pets, pet products and services: