Japan Dec. consumer prices hit four-decade high

The latest inflation numbers for Japan show the country's consumer inflation hit a 41-year high in December.

Japan's internal affairs ministry says the CPI, excluding fresh food, rose 4.0 percent last month from a year earlier. That's due to rising energy and raw materials prices.

Officials also announced the inflation figure for the full year 2022.

The annual CPI, excluding fresh food, rose 2.3 percent from a year earlier.

The last time the index spiked by this margin was in 2014 when a consumption tax hike was introduced.

Excluding that, the figure represents the biggest jump since 1991.