Food inflation has started to slow, according to the latest figures from market analysts TNS Worldpanel.
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The price of food rose by 8.9% during the 12 weeks to 2 November compared to an increase of 9.3% for the 12 weeks to 5 October, TNS said today (11 November).
The data came as TNS published its latest figures for the market share of the UK’s largest grocery retailers.
The rise of discount stores in the UK has continued apace. Aldi saw its sales jump 23.9% year-on-year during the 12 weeks to 2 November. Discounters Aldi, Lidl and Netto now account for 6.2% of UK grocery sales, a record for the sector, TNS said.
Asda saw its sales rise 9% while rival Morrisons enjoyed sales growth of 9.4% – both ahead of the market as a whole.
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By GlobalDataTesco, meanwhile, saw sales grow slower than the market. The UK’s largest grocer posted sales growth of 5.4% but saw its market share dip from 31.3% to 30.9% as total UK grocery sales rose 6.6%.
“Put simply, retailers with a strong price positioning are continuing to benefit whereas the premium end of the market is clearly under increasing pressure,” said TNS director of research Ed Garner.
At the other hand of the pricing spectrum, upmarket retailer Waitrose saw sales rise 1.3%. “Waitrose has seen its growth rate fall back progressively for the last eight reporting periods,” Garner added.
Sainsbury’s meanwhile saw its share of the market dip from 16% to 15.9%, despite enjoying sales growth of 6%, according to the TNS figures.
Nevertheless, Garner said Sainsbury’s performance was “surprisingly robust” in a market “increasingly driven by value-based messages”.
