Pet food inflation continued to decelerate in June, with year-over-year price growth slipping to 1.3%, down from 1.8% in May, according to the latest Petflation report from John Gibbons, president of Pet Business Professor, who tracks monthly U.S. Bureau of Labor Statistics data for the pet industry.
Pet food prices rose 0.2% from May but remain well below broader food inflation trends. Gibbons noted that pet food's annual rate is now 52% below the Food at Home inflation rate of 2.7%, continuing a pattern of relative price stability in the category.
"The year-over-year pet food CPI has deflated in 16 of the last 28 months," Gibbons said. "Pet food prices are still within 0.4% of the March record high, even with the recent slowdown in annual growth."
Gibbons' report shows the 2021-26 inflation surge has generated 98.8% of the 24.8% total inflation pet food has experienced since 2019, underscoring how concentrated recent price increases have been compared with the pre-pandemic era. Inflation for the category began in June 2021 at 0.9%, following 12 consecutive months of deflation.
Year-to-date, pet food prices are up 1.7%, down slightly from 1.8% through May but a sharp reversal from the -0.5% rate recorded over the same period in 2024-25. Gibbons pointed out that pet food posted the highest 2022-23 inflation rate among the categories he tracks, yet ranks sixth of seven segments for the 2021-26 period and seventh for 2019-26, with 95% of its post-2019 inflation occurring since 2021.
Broader inflation trends ease
The broader economic backdrop also showed signs of cooling. The national CPI fell 0.3% from May, and its year-over-year rate dropped to 3.5% from 4.2%, according to the report. Grocery prices rose 0.2% for the month, though annual grocery inflation held steady at 2.7%. Gas prices, meanwhile, remained up 36.1% since February.
Total Petflation — Gibbons' combined measure across pet food, supplies, veterinary and pet services — held at 3.2% year-over-year in June, a rate he said sits 8.6% below the current U.S. CPI and matches the category's average June rate since 1997.
Shift toward private label expected
Looking ahead, Gibbons said sustained inflation is likely to reshape purchasing behavior across pet food and supplies. "In pet food, the most needed segment, some pet parents may choose to downgrade their pet food," he said. "The biggest impact in both product segments will be a strong movement to online purchasing and private label."
Gibbons pointed to recent trade show activity as early evidence of that shift, citing a large number of exhibitors offering OEM services at Global Pet Expo and SuperZoo events in both 2025 and 2026.
Data sourced from the latest Petflation report by John Gibbons at PetBusinessProfessor.com, tracking Consumer Price Index data for pet industry segments compared to national inflation trends.
