Pets and pet products price inflation, 2023→2024

Pets And Pet Products Inflation Calculator

Prices for Pets And Pet Products, 2023-2024 ($20)

According to the U.S. Bureau of Labor Statistics, prices for pets and pet products are 0.29% higher in 2024 versus 2023 (a $0.06 difference in value).

Between 2023 and 2024: Pets and pet products experienced an average inflation rate of 0.29% per year. In other words, pets and pet products costing $20 in the year 2023 would cost $20.06 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.83% during this same period, inflation for pets and pet products was lower.

In the year 2023: Pricing changed by 7.44%, which is significantly above the average yearly change for pets and pet products during the 2023-2024 time period. Compared to inflation for all items in 2023 (4.12%), inflation for pets and pet products was much higher.

Price Inflation for Pets and pet products since 1977

Consumer Price Index, U.S. Bureau of Labor Statistics

Years with the largest changes in pricing: 1980 (11.53%), 1981 (10.38%), and 2008 (9.19%).

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Buying power of $20.00 since 2023

Below are calculations of equivalent buying power for Pets and pet products, over time, for $20 beginning in 2023. Each of the amounts below is equivalent in terms of what it could buy at the time:

Year	USD Value	Inflation Rate
2023	$20.00	7.44%
2024	$20.06	0.29%*

* Not final. See inflation summary for latest details.
** Extended periods of 0% inflation usually indicate incomplete underlying data. This can manifest as a sharp increase in inflation later on.

Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Pets and pet products:

Year	1977	1978	1979	1980	1981	1982	1983	1984	1985	1986	1987	1988	1989	1990	1991	1992	1993	1994	1995	1996	1997	1998	1999	2000	2001	2002	2003	2004	2005	2006	2007	2008	2009	2010	2011	2012	2013	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
CPI	68.100	69.377	74.654	83.262	91.900	96.769	99.962	103.277	106.377	108.662	110.977	114.469	120.700	124.562	129.054	128.085	128.808	130.931	132.269	139.015	142.715	143.469	144.462	144.285	146.654	149.654	150.262	154.469	155.831	161.662	166.578	181.882	194.891	192.855	195.934	199.536	200.906	199.313	198.205	198.360	197.045	197.834	203.688	202.470	204.504	223.278	239.897	240.596

Adjust pets and pet products prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 2023 * 2023 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Pets and pet products was 239.897 in the year 2023 and 240.596 in 2024:

240.596 / 239.897 * $20 = $20.06

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2023 has the same "purchasing power" as $20.06 in 2024 (in the CPI category of Pets and pet products).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Pets and pet products in 1977. In addition to pets and pet products, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.