8 out of 10 Aussie pet parents worry about inflationary pressure

A survey from the Hospitals Contribution Fund (HCF), Australia’s largest private health insurer, has found a high degree of concern about increasing pet care costs.

According to the research conducted in February, 80% of Aussie pet owners are feeling the strain of inflation, with 4 in 5 particularly concerned about how much it costs to care for their pets.

Specifically, Gen Z (85%) and Baby Boomers (76%) expressed the highest concern.

Regional breakdown

The HCF survey concluded that the vast majority of owners in Western Australia (88%) are the most concerned about inflation. New South Wales closely followed, with 83% of pet parents in the southeastern state showing concern.

Pet parents in Victoria (74%) and South Australia (73%) weren’t far behind.

According to the latest 2022 data, Australian pet parents splurge a minimum of A$1,715 ($1,126/€1,033) per year on each cat and A$3,218 ($2,113/€1,939) on each dog.

Managing expenses

The survey concluded that 4 out of 5 Australian pet owners are willing to adopt at least one strategy to reduce spending, such as buying pet food in bulk (46%), grooming pets at home (43%), leaving pets at home rather than in daycare (31%) and reducing dining out and shopping (29%).

Insurance company PetSure found that in the past 12 months, pet healthcare expenses have exceeded the country’s high inflation figures. Pet treatment costs for arthritis and elbow conditions have exceeded 50% year over year.

The data suggests that pet parents could have trouble finding over A$3,000 ($1,970/€1,807) for unexpected pet health expenses, with many common accidents and illnesses costing more than this. 

You can find a 2024 overview of the Australian pet industry, including the latest data and trends, here.