Yes, you are going to loose slower. 10% of your weight lost is average for induction. For you that would only be about 2 lbs as opposed to some of the other people you see dropping 15 in the first 2 weeks. BTW though, looks like you are doing great so far with 5 pounds! You are above the average. But do expect that to slow down. You won't looses that rapidly after the first week or two.

Exercise is key! Weights and resistance is preferable to an aerobic routine. Even just walking though will do you a world of good. Your inches will decrease faster even if it's not showing as quickly on the scale (because you are building muscle which weighs more than fat). Take your measurements and re-measure every once and a while to track your progress. Or get a tight pair of jeans to try on each week. They will get baggy! Don't put all your faith into the scale.

Welcome and good luck! You are doing awesome so far!