Fido’s Food Set to Take Bigger Bite of Budget: Chart of the Day
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U.S. pet owners beware: the cost of feeding your animal is set to surge in coming months, following the rise in your own food bill.
The CHART OF THE DAY shows how changes in the food component of the consumer price index have led movements in pet food costs since 2006. In 2008, pet food prices jumped by 16 percent after human food inflation reached 6 percent. Human food costs have accelerated to more than 2 percent as of February after falling 0.7 percent at the end of 2009.