 food inflation jumped 25% from 2019 to the end of 2023. The additional inflation in the first half of 2024 has been the tipping point. Tom Bailey, senior consumer foods analyst at Robobank, says, quote, the consumer is waving the white flag on food inflation with an added 2% in price hikes in 2024, coupled with the disparity between the cost of eating out and cooking at home at the widest point in history, we're seeing heightened fatigue and frugality, end quote.