techkenyot.com
techkenyot.com November 18, 2017


Supermarket prices rising at fastest rate in 4 years

14 November 2017, 04:41 | Hattie Nash

The latest rise in inflation means a typical family could pay an extra £144 a year for their groceries if the pace

Supermarket prices rise at fastest rate in four years

Kantar Worldpanel announced in a statement today that overall supermarket sales in the United Kingdom had increased in value by 3.2 percent year-on-year in the 12 weeks to November 5.

According to the figures, for the 12 week period to 5 November, the discounter now stands on 5.1% market share, putting it within touching distance of Waitrose, which holds 5.3% share.

Prices have been rising since the start of this year following 30 consecutive periods of deflation from September 2014 to December 2016 as supermarkets engaged in a fierce price war.

"Prices are rising fastest in markets such as butter, fish and cola and are falling in only a few markets, including crisps and fresh poultry".

"Volume sales have increased by less than 1%, meaning it's price rises keeping supermarket performance buoyant", head of retail and consumer insight at Kantar Worldpanel Fraser McKevitt said.

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Christmas has begun for retailers with a flurry of adverts accompanied by product incentives.

Mr McKevitt said: "Consumers have already been digging deep in preparation for the holiday season, buying 10.1 million packs of traditional Christmas biscuits in October alone".

But despite this, alcohol sales are still on the rise.

Lidl was Britain's fastest-growing supermarket for the fifth consecutive period, with sales up 15.1 per cent helped by new store openings.

Sales at Aldi increased by 13.1 per cent, advancing the retailer's market share to 6.7 per cent.

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J Sainsbury (LON:SBRY) was the fastest-growing "Big Four" supermarket in the run-up to Christmas, the latest Kantar numbers have shown.

"The grocer's strongest growth came from both its Local convenience stores and online sales".

Sainsbury's share price has been steady in today's session, having added 0.18 percent to 227.70p as of 13:38 GMT, in line with the broader United Kingdom market, with the benchmark FTSE 100 index now standing 0.16 percent higher at 7,427.20 points.

Kantar data said 76% of British households made a visit to Tesco during the past 12 weeks, whilst Asda had its eighth consecutive period of growth.

Tesco saw sales growth of 2.3 per cent as its market share dipped to 28.0 per cent, down 0.2 percentage points on previous year.

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The sharp fall in the value of the pound following the UK's vote to leave the European Union past year has raised the cost of imports and pushed up the rate of inflation, which is now being passed on to United Kingdom consumers. Morrison's share fell by one percentage point to 10.4%.



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