UK's Grocery Market Sees Faster Growth; Market Leader Tesco Recovers Growth Mode

UK's grocery market grew 1.1 percent for the 12-week period ending February 1, 2015, its fastest rate since June 2014, according to market research firm Kantar Worldpanel. Growth during the period was driven by lower fuel prices and the ongoing price war among the country's supermarkets, according to Kantar Worldpanel retail and consumer insight head Fraser McKevitt. Like-for-like grocery prices fell 1.2 percent, helping UK consumers save £327 million during the period. Tesco, UK's largest retailer, saw sales increased 0.3 percent, compared with the same period of the previous year, while Asda reclaimed the number 2 position, grabbing a 16.9 percent share of the market.