US pet food prices suffered a 10.9% yearly increase in July
New official data shows that the inflation pressure in the category is higher than the overall Consumer Price Index (CPI), which remained at 8.5% in the last 12 months.
Purchases of pets, accessories and supplies were 6.1% more expensive than 12 months ago, according to the US Bureau of Labor Statistics.
Between June and July, American pet parents had to pay an average of 1.2% more to feed their animals. The rest of the products in the category remained flat.
For the first six months of 2022, the accumulated price rise in pet food stands at 9%.
More inflation to come?
The federal agency suggested earlier in the year that inflation in the pet segment this year could set a record for over two decades.
In addition to the price hike, the sector is suffering from global chain supply chain disruption, lack of ingredients and labor shortages.
In a recent interview, Pet Food Institute President and CEO Dana Brooks claimed that the industry is challenged by this. “From packaging, through processing, onto the shelf, I can’t really tell you a part of that that isn’t challenged or complicated,” she observed.
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