As we enter the home stretch of 2024, can we see what 2025 might promise for pet food? Especially with inflation, which has greatly impacted not only the industry but also pet owners and retailers for several years now. In July 2024, the last data available at press time, U.S. pet food prices were stabilizing, rising at about the same low monthly rate as in 2021 — but that doesn’t mean everyone’s pain has dissipated.
In July, pet food prices were down year over year (YOY) by .4% from July 2023. That’s significantly lower than the U.S. national consumer price index (CPI, at 2.9% in July 2024), inflation for all pet products and services (what John Gibbons of PetBusinessProfessor.com calls “petflation,” at 1.9%) and human food (1.1%). The data came from the U.S. Bureau of Labor Statistics (BLS), compiled and analyzed by Gibbons.
