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RALEIGH, N.C. — Inflation has hit a 40-year high as surging prices slam consumers.

What You Need To Know

Inflation rose to 9.1% in June, the highest in a year's time

A pet store co-owner said it has affected his chain

JP Phinney runs the Unleashed Dog and Cat Store with his wife Amy

The Consumer Price Index for June revealed a 9.1% increase compared to a year ago.

This is impacting everything from groceries to gas prices. If you have pets you've probably noticed their food, toys and treats are more expensive as well. 

The co-owner of the Unleashed Dog and Cat Store said each of their locations around North Carolina has felt the brunt of inflation.

“A lot of the foods, as far as what we’re talking about, which is how inflation is affecting us today, we typically would get maybe one price increase every month or so leading up to 2021,” JP Phinney said.

That has not been the theme for Phinney since the turn of the new year.

"The first half of 2022, our manufacturers have notified us on average of about 10 a week throughout the entire year of price increases that they have to implement,” Phinney said.

Phinney and his wife Amy came up with this idea for a line of pet stores. In 2007 they opened their first store.

“We’re very selective on what brands we do carry. All of our brands are manufactured domestically,” he said as he pointed to a row of dog food.

Phinney says that has not changed. The price of products on the shelves has.

“We try to be as affordable as possible for all of our brands,” he said.

But when manufacturers raise the price of goods, the cost of what’s being offered to customers goes up as well.

“It did start to slow down in June, but it seemed like between January and April, I think every manufacturer that we carry in our store had a raw materials price increase for some reason or another,” he said.

The Bureau of Labor Statistics revealed food, for humans and animals, was affected.

Phinney said fuel prices impact their business too. If manufacturers spend more on gas to bring supplies to their storage, Phinney said it is reflected in their inventory at stores.

“If they are paying more for logistics then they have to raise their prices,” he said.

He said they charge something called the Minimum Advertised Price in all of their 10 stores. Which has happened at a rate that he said he's never seen before. 

Certain brands of dog food are up 15%. He said it matters less for smaller sizes than it does big bags. A pet owner may pay up to $80 for larger bags depending on the manufacturer.

“Fifteen percent is a pretty hefty increase,” he said.

That can mean a food switch based on what the customer can now afford. Even toys are pricier.

The discount toy bin at each of their stores used to be stocked with items that cost no more than $3.

“We’ve always had what we call the $3 bin in the stores, and it was always possible to find toys that were like run-offs or offseason. We were able to fill the bin so that pets could have a lot of small (toys), and it didn’t matter if they tore them up,” he said.

Now the price of each stuffed animal in that bin is $5. The store owner said it’s the clearest example of inflation in the store.

“This year it became absolutely impossible to keep toys in this bin. That was the biggest challenge because if we tried to keep it a $3 bin it would be empty, we would have to get rid of it,” he said.

Not everything is doom and gloom.

“I don’t feel like we have lost any business,” he said.

He said they still have customers walk through the door … whether it be on two feet or four.