While pet food prices have leveled off, the overall pet industry continues to face rising costs, according to the latest Petflation report by John Gibbons of PetBusinessProfessor.com.
As of May 2025, pet industry inflation reached 2.2%, up from 1.9% in April, marking the highest rate in nearly two years. The report highlights a growing divide in the market: pet food prices are stabilizing, while pet services are driving inflation upward.
Pet food prices rose by just 0.01% from April and were down 0.5% compared to May 2024, continuing a trend of mild deflation. This marks the 14th out of the last 15 months in which pet food prices have declined or remained flat. Since 2019, nearly all pet food inflation occurred during the 2021–2023 surge, Gibbons notes.
In contrast, pet services saw sharp increases. The consumer price index for pet service categories climbed 4.9% in May, with veterinary services up 0.5%, general pet services up 1.1%, and pet supplies up 0.5% from the previous month. As a result, all pet categories except food hit record-high prices in May.
Meanwhile, grocery store food inflation remains higher than pet food, showing 2.2% year-over-year growth.
Despite the relief in food costs, pet owners are still feeling the pinch in other areas—especially when it comes to care and services—keeping pressure on household budgets in the broader pet economy.
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