For anyone who has been in the nightmarish position of discovering their dog has eaten a massive bar of chocolate and had to rush it to an emergency vet to have its stomach pumped for an exorbitant amount of money, you’ll know pets can prove pricey. In fact, vet costs are thought to have risen twice the rate of inflation, and it’s affecting pet owners’ pockets, as well as their pets’ health.
Rajan Lakhani, personal finance expert and head of money at personal finance app Plum, says a number of factors are contributing to the increase, including “higher utility and rental costs that veterinary offices are having to pay. Then there’s new technology, and also medication costs have risen.”
