According to the bureau's data, the annual inflation in December last year has become the highest since November 1990, when the showing reached 4.2%. In November 2022, the CPI was around 3.8% in annual terms.
The month-to-month inflation rate was 0.2% in December 2022, and the same figures were record a month earlier.
The base consumer prices index in the country, which does not include the cost of perishable food, was also sitting at annual 4% in December after hitting 3.7% in November, which correlated with the forecast by DailyFX. The showing has become the highest since 1981.
In 2013, the BOJ announced a "price stability target" of 2% annual inflation. The year 2022 will become the first to exceed this benchmark since 2015.