Overall consumer prices rose 2.6% in May over the same month last year, down on April's 2.7% figure, the Census & Statistics Department said today.
Netting out the effects of the Government's one-off relief measures, the underlying inflation rate was 2.2%, also down on the April figure of 2.3%.
Year-on-year increases were recorded for housing, food, meals bought away from home, transport, alcohol and tobacco, miscellaneous services, and miscellaneous goods.
Year-on-year decreases were recorded for durable goods, clothing and footwear, electricity, and gas and water.
The department said inflation pressures eased in May, thanks partly to the slower year-on-year increases in prices of basic foodstuffs and the private housing rental component. Meanwhile, the price pressures of other major CPI components were also moderate.
Upside risks to inflation should remain contained in the near term, given the modest external price pressures, retreat in local rental inflation and subpar economic growth, the department added.
