UK pet product prices rose by 13.3% in 2022
July registered the highest increase in a single month for the first time in almost 3 decades.
The UK’s Consumer Prices Index (CPIH) released by the Office for National Statistics (ONS) concluded that pet products and services increased by 0.3% in the last month of 2022. November recorded a 1% increase, while October inflation was up by 0.7%.
July 2022 accounted for the highest monthly inflation rate with 2.8%, while January (0.1%) registered the lowest price increase for pet products. The highest recorded inflation month-on-month in the UK’s pet products market was seen in July 1993, with a rise of 2.9% in the price of pet supplies.
From January to December, pet supply prices in the UK accumulated an inflation of 13.3%. Inflation in 2021 reached 4.6%, according to the official figures.
British Prime Minister Rishi Sunak has pledged to cut inflation by half in 2023. Housing, utilities, energy (26.6%), and foods (16.8%) were the hardest hit in December 2022 compared to the same period in 2021. Overall, inflation increased by 9.1% in the UK last year.
In the US, pet supply prices raised by 12% from January to December 2022.
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