Pet Treats Inflation

Macro

Inflation

Noticing a change to CPI measure of Pet market

Author

Mike Aguilar

Published

November 13, 2024

Did anyone notice that deep within the CPI report, the BLS is changing the name of the “Pet Food” line item to “Pet Food and Treats”?

Recognition of this huge (>$10bln according to Copilot) industry?

Interestingly, this category has swung from 15% y/y inflation to deflation.

And notice the (leading?) correlation with Chewy equity price