UK grocery price inflation falls to 2.4%, says Kantar

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Grocery inflation at lowest level since Oct 2021
  
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Ocado is again fastest growing UK grocer
  
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Tesco and Sainsbury's both gain market share
  
 
LONDON, May 21 (Reuters) - UK grocery inflation fell for the 15th month in a row in May to hit its lowest level since 
October 2021, industry data showed on Tuesday. 
Market researcher Kantar said annual grocery price inflation was 2.4% in the four weeks to May 12, down from 3.2% in the 
previous four week period. 
But it noted that prices were still rising quickly for products such as chilled fruit juices and drinks, sugar 
confectionery and chocolate confectionery. 
Official UK data published on April 17 showed consumer price inflation fell to 3.2% in March, driven by a slowdown in food 
inflation to 4%. Inflation data for April is due to be published 
on Wednesday. 
Prime Minister Rishi Sunak has sought to take credit for more than halving inflation, although there has been little sign 
of an opinion poll boost for his struggling Conservative Party, 
which badly lags the opposition Labour Party ahead of an 
election expected this year. 
Kantar said take-home grocery sales rose by 2.9% over the four week period year-on-year. 
Over the 12 weeks to May 12, online player Ocado was again the fastest growing grocer, with sales growth of 
12.4%. 
Market leader Tesco and No. 2 Sainsbury's both saw sales growth of 5.6% and both gained market share. 
Discounters Lidl and Aldi saw sales growth of 9.4% and 2.2% respectively. 
No. 3 player Asda was again the laggard, with sales down 2.0% and its market share down 80 basis points on the year. 
Kantar noted that with the Euro 2024 soccer tournament and the Olympic Games on the horizon, the summer months could see 
sales increases for supermarkets, particularly in categories 
like alcohol. 
"Especially if it’s paired with warmer temperatures, this year’s summer of sport could deliver a welcome boost for the 
sector," said Fraser McKevitt, head of retail and consumer 
insight at Kantar. 
UK supermarkets' market share and sales growth (%) Market share  Market share  % change in 
12 wks to     12 wks to     sales 
May 12 2024   May 14 2023   (yr-on-yr) 
Tesco            27.6          27.1          5.6 
Sainsbury's      15.1          14.8          5.6 
Asda             13.1          13.9          -2.0 
Aldi             10.0          10.1          2.2 
Morrisons        8.6           8.7           3.1 
Lidl             8.1           7.7           9.4 
Co-operative     5.4           5.7           -0.6 
Waitrose         4.6           4.6           2.8 
Iceland          2.3           2.3           4.2 
Ocado            1.8           1.7           12.4