Consumer price inflation in Hong Kong weakened to the lowest level in fifteen months in May, and matched economists' expectations, data released by the Census and Statistics Department showed Thursday.

The consumer price index increased 4.3 percent annually in May, in line with economists' expectations. In April, the inflation rate was 4.7 percent. The latest figure was the lowest since February 2011, when prices rose 3.6 percent.

Food prices advanced 6.8 percent annually, while housing costs increased 6.3 percent. There was a 3.2 percent year-on-year gain in clothing and footwear prices during the month, and a 3.3 percent rise in transportation costs. Meanwhile, prices of electricity, gas and water decreased 18.2 percent year-on-year in May, data showed.

Sequentially, in the three months ended May, consumer prices increase on average 0.4 percent, after rising 0.3 percent in the February-April period, the agency said.

RTTNews