FOOD prices have risen at their third fastest monthly rate in a year amid hikes in the cost of butter, cheese, eggs and bread, new figures show.

According to the British Retail Consortium (BRC) Shop Price Index (SPI), food inflation hit 2.1 per cent in February, up from 1.6 per cent in January.

Prices of fresh food rose 1.5 per cent over the year — an increase from 0.9 per cent in January — while ambient food inflation, covering packaged and long-life goods, jumped from 2.5 per cent to 2.8 per cent.