Prediction: Dog Food Price Increases

by Dr. Chris

May 1, 2011 According to financial experts, more dog food price increases are coming. This rising cost of keeping a dog is one contributing factor as to why a large number of pets are given up to shelters or abandoned.

Dog food price increases generally mirror the cost of human food. Since 2008, the cost of dog food has increased 16%, while human food increased 6%.

People spend over $40 billion a year on pets, which is more then what people spend on new cars in the United States according to the Commerce Department's Bureau of Economic Analysis.

According to Zach Pandl, a senior economist at Goldman Sachs Group Inc., “Recent food price increases appear to be passing through to pet food products, as they did to an even greater degree in 2008. These gains have added to the rise in core inflation, and likely will continue to do so for a while longer.”

Source for article: Dog Food Price Increases.

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