LONDON Jan 10 Britain's biggest supermarket
chain Tesco recorded the fastest growing sales of the
country's four largest players in the Christmas quarter, as
inflation returned to the grocery market after more than two
years of falling prices.
Market researcher Kantar Worldpanel said Tesco sales grew
1.3 percent during the 12 weeks to Jan. 1, outperforming no.2
chain Sainsbury's, whose sales fell 0.1 percent, Asda
, down 2.4 percent, and Morrisons, up 1.2
Kantar's data also showed that inflation returned to the
market with underlying grocery prices rising 0.2 percentage
points during the period, the first increase in prices since
Britain's overall inflation rate has begun to rise following
the slump in the value of the pound caused by the Brexit vote
last June, and it is expected to hit around 3 percent this year.
The industry data was published after Morrisons, Britain's
No. 4 supermarket group, earlier on Tuesday raised its profit
guidance following its strongest underlying Christmas sales for
seven years, confirming its recovery under new management.
(Reporting by Sarah Young; editing by Kate Holton)