Overall consumer prices rose 3.7% year-on-year in May, equalling April’s figure, the Census & Statistics Department announced today.
Netting out the effects of the Government’s one-off relief measures, the underlying inflation rate was 3.5%, also the same as April.
Year-on-year price increases were recorded for alcohol and tobacco (8.1%); housing (5%); meals bought away from home (4.7%); electricity, gas and water (3.4%); food (excluding meals bought away from home) (3.4%); miscellaneous services (3.1%); clothing and footwear (2.9%); transport (2.1%); and miscellaneous goods (1.8%).
A year-on-year 2.9% decrease was recorded for durable goods.
The department said inflation was largely stable in May, indicating that inflationary pressures were contained and the upside risks to inflation should remain limited in the near term, given the modest rise in import prices, easing rental pressures and steady wage growth.
It said the Government will monitor inflation, particularly its impact on people with lower incomes.
