Japan's inflation eases with July Fed hold odds at 72.5%. May core CPI up 1.4% yearly, below BOJ's 2% goal despite rate hike to 31-year high.In May, Japan experienced a 1.4% year-on-year increase in its core CPI, marking the fourth consecutive month that it has remained below the Bank of Japan's target of 2%. This was observed despite a recent rate hike to a 31-year high.