Hong Kong's annual inflation weakened in May and matched economists' expectations, latest data showed Thursday.
Inflation as per the consumer price index eased to 3.9 percent in May from 4 percent in April, the Census and Statistics Department said. The figure matched economists' forecast.
Inflation was influenced by a 4 percent rise in food prices, and a 6.1 percent increase in housing costs. Clothing and footwear prices were higher by 0.7 percent than in May 2012, and transportation costs higher by 2.3 percent.
Sequentially, average consumer prices in the three months ended May moved up a seasonally adjusted 0.3 percent, after recording a 0.5 percent gain in the preceding period, data showed.
The agency said that inflation is expected to face some mild upside risks in the coming months as the lagged effects of the rise in private housing rentals during last year continue to feed through.
Nonetheless, the subdued imported inflation and the recent milder increase in housing rentals in the market for fresh lettings would help contain inflation in the latter part of this year.
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