Supermarket prices rise at fastest rate in four years
Supermarket prices rise at fastest rate in four years
TOP NEWS: Price Rises Keep UK Supermarkets Buoyant As Christmas Begins
14 November, 2017, 19:51
Sainsbury's is the fastest growing of the "big 4" supermarkets.
The average shop is now costing GBP18.26, meaning consumers are now paying an extra 62 pence each visit, adding GBP143.70 to the typical family's grocery bill.
The latest Kantar Worldpanel market share figures have found that Lidl is now the fastest growing United Kingdom supermarket for the fifth consecutive period in a row, with sales rising 15.1%.
"The British public is only just getting started when it comes to Christmas shopping", Fraser said, "and is expected to shell out a whopping £28.7 billion at the grocers in the final 12 weeks of 2017". 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.
Tesco welcomed 76% of British households during the past 12 weeks, growing sales by 2.3% as its market share dipped to 28%, down 0.2 percentage points on last year, while Morrisons saw sales increase by 2.1% accompanied by a marginal fall in share from 10.5% last year to 10.4% during the latest quarter.
Lidl is the country's fastest growing supermarket for the fifth consecutive period with sales up 15% year on year.
"Alcohol sales have ramped up too, increasing by 5.3% year-on-year as shoppers parted with an extra GBP142.00 million on their favourite tipples".
Waitrose held market share steady year on year at 5.3 per cent, seeing sales growth across the board: from convenience stores, larger supermarkets and online.
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.
On currency markets, the pound was flat against the dollar at $1.3115, but fell against the euro, however, down 0.33% at €1.1205.
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. The group's shares have lost more than three percent of their value over the past year, and are down by some eight percent in the year-to-date. The news follows the grocer's interims earlier this month, which revealed that its profits had fallen in the first half of its financial year.
Elsewhere in the Big 4 Asda enjoyed its eighth period of sales growth jumping 1.5 per cent driven by an 88 per cent sales boost in its budget Farm Stores range.
United Kingdom grocery sales reportedly increased 3.1 per cent year-on-year, and 1.7 per cent excluding discounters.
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