The overall inflation rate came in at 0.8% last month, same as the survey median estimate.
Recreation prices dropped 2% in May compared to a year ago, after also falling 1% in April.
The food inflation rate was 1.1% in May, while healthcare costs climbed 2.7%.
Earlier this month, economists from a separate Bloomberg survey cut their outlook for both headline and core inflation for this year by at least 0.4 percentage points (ppts) due to slower global demand and declining global oil prices.
See also: Singapore’s core inflation rate cools to four-month low
Official estimates project the country’s core inflation to average between 0.5% to 1.5% this year.
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The next central bank meeting is scheduled to be held next month.
