Average food prices paid by consumers at supermarket chains Coles and Woolworths have eased slightly in February, with prices of fresh produce falling faster than packaged goods, according to the latest UBS grocery price tracker.

Average prices for food rose 8.8 per cent in February, below January’s print at 9 per cent, according the UBS research, which tracks more than 60,000 prices across the two grocery chains on a monthly basis.