According to the U.S. Bureau of Labor Statistics, prices for pets, pet products and services were 27.82% higher in 2018 versus 2007.
Between 2007 and 2018: Pets, pet products and services experienced an average inflation rate of 2.26% per year. This rate of change indicates significant inflation. In other words, pets, pet products and services costing $20 in the year 2007 would cost $25.56 in 2018 for an equivalent purchase. Compared to the overall inflation rate of 1.69% during this same period, inflation for pets, pet products and services was similar.
In the year 2007: Pricing changed by 4.24%, above the average yearly change for pets, pet products and services during the 2007-2018 time period. Compared to inflation for all items in 2007 (2.85%), price inflation for pets, pet products and services was higher.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Pets, pet products and services: