Has food inflation reached its tipping point?

Economists say consumers may have reached a tipping point when it comes to food costs as prices continue to rise.

Food analysts with RaboBank show the cost of eating jumped nearly 30 percent from 2019 through the close of 2023, but the jumps did not stop there. Since the start of 2024, another two percent has been added on, with wages not coming close to keeping up. They say that has led to more consumers to cut back and look for different cuts of meat if they buy any at all.

They point to poultry, saying more chicken consumers are opting for dark meat because of rising costs.