Members of the Organization for Economic Cooperation and Development (OECD) saw their prices soar to the highest levels in over three decades in February.
According to the recent data by the OECD on Sunday, the inflation rate of 38 OECD members came to seven-point-seven percent in February.
The reading marks the highest in 31 years and two months since December 1990, right before the Gulf War.
Inflation climbed further in February, up point-five percentage points from a month ago and six percentage points from a year earlier.
The OECD said that soaring energy prices continued to boost inflation in a majority of OECD countries, but inflation of food prices also showed a notable increase.
Energy prices in the OECD area jumped 26-point-six percent, while food prices gained eight-point-six percent on-year in February.
Prices in South Korea rose three-point-seven percent in February, the 32nd highest rate among the 38 OECD members.
Source: KBS World Radio