Overall consumer prices rose 1.2 percent in May year-on-year, up slightly from the 1.1 percent increase recorded in April.

Census and Statistics Department figures released on Friday showed there was a 20.1 percent increase in the price of alcoholic drinks and tobacco, a 3 percent rise in the price of meals out and takeaways, and a 2.3 percent increase in transport costs.

In a statement, a government spokesperson said inflation should remain contained in the near future, but domestic cost pressures may increase as the local economy continues to grow.

"External price pressures should continue to stay on a broad moderating trend, though geopolitical tensions may bring uncertainties. The government will continue to monitor the situation," the spokesperson said.