Pet Costs Rising Above Std. Rate Of Inflation

The start of the RSPCA's Fund Raising Week, sponsored by Tesco, must have seemed like a good time for Steve Johnson, Head of Pet Insurance at Sainsbury’s Finance to pop up and tell us just how expensive it is to keep a cat or a dog - for that is just what he did yesterday..

Yesterday the RSPCA announced it had seen an increase in the number of annual animal abandonments. Its rescue figures show a 23% increase in the number of animals abandoned by their owners - up from 5,959 in 2006 to 7,347 in 2007.

Sainsbury responded that some pets may be being abandoned because their owners have underestimated the real cost of owning a pet which can run into several thousands of pounds over the course of its life.

The company quotes research which points to the lifetime cost of owning a dog bought in 2007 at being just under £9,000, and a cat at just over £7,200(1). The average annual cost of owning a dog today is currently £502 but this could increase, says the pet insurer, to as much as £921 in 12 years.

Steve Johnson said:

"The significant rise in pets being abandoned makes for depressing reading. As the cost of owning a pet steadily increases, it's important that owners and potential purchasers fully appreciate the financial commitment related to owning a cat or dog - this is rising at above the rate of inflation. Costs can also escalate as pets get older as they often need extra medical care and attention."

Estimated lifetime costs of cats and dogs - from YouGov, (Jan 2007):

Age of pet (yrs) Cost of a dog (£) Cost of a cat (£)
3 1,585 1,040
5 2,784 1,826
7 4,110 2,695
10 6,368 4,177
15 10,985 7,204
20 16,930 11,103