According to the Office for National Statistics (ONS), in July there was the highest inflation rate recorded in a single month since 1993. The UK’s Consumer Prices Index (CPIH) reasoned that the inflation rate regarding that pet products and services increased in July 2022 was 2.8%, in October there was recorded an increase by 0.7%, in November by 1% and in December by 0.3%.
So far, the highest inflation rate in one month was an increase of 2.9% on pet supplies in July 1993. Last year, from January to December, the statistics show an inflation rate of 13.3%, nearly a triplication compared to the previous year (4.6%). The prices for pet supply in the US though increased by 12% in the same period.
The prices for housing utilities, energy (26.6%), and foods (16.8%) experienced the strongest increase. That is why British Prime Minister Rishi Sunak promised to halve inflation this year. In UK, the overall inflation increase was 9.1%.