Study: Pet owners concerned about inflation, some getting pets instead of having kids

SAN ANTONIO (KTSA News) — A new study shows more than 70-percent of pet owners are paying more for routine pet-care items, like food, toys and treats. talked to more than 1,000 dog owners in its True Cost of Pet Parenthood report. The data shows an annual cost of anywhere from $480 to $3,470 per dog, depending on factors like breed, location, lifestyle and unique pet needs.

At the center of the discussion is inflation.

“Like most consumer goods and services across the globe, the cost of many pet products has increased in the past year,” said Kate Jaffe, Trend Expert at Rover. “Despite these rising costs, Americans are still splurging like never before for their beloved pets, opting for fresh and nutritious food, environmentally-friendly pet products, and personalized pet care services  – proving pets and their wellbeing aren’t discretionary expenses, but rather part of the mandatory family budget.”

The study also shows close to a quarter of Millennial and Generation Z pet owners are holding off on having kids in favor of getting a dog.

Close to 40-percent of pet owners found that the upfront costs associated with bringing home a dog were greater than what they were expecting. In that group, pet owners were expecting a number below $500, but they ended up spending anywhere from $1,050 to $4,480.

You can read the entire True Cost of Pet Parenthood report by clicking here.