(Bloomberg) -- Inflation across Organization for Economic Cooperation and Development member nations is accelerating, with the average reaching the fastest in five years in February. The increase was driven by energy prices, where the year-on-year change jumped to 11.1 percent from 8.5 percent, and food. Among the OECD's biggest economies, the fastest inflation was in the U.S., where the Federal Reserve is already increasing interest rates.
To contact the reporter on this story: Fergal O'Brien in London at fobrien@bloomberg.net.
To contact the editors responsible for this story: Fergal O'Brien at fobrien@bloomberg.net, Brian Swint, Lucy Meakin
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