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The highest inflation in the last 13 months was 5.63 per cent in May, as per the BBS data.
In an economic bulletin, Finance Undersecretary Gil Beltran noted that month-on-month inflation rose by 0.25 percent last July.
PSA data showed that on average, inflation weakened the peso's purchasing power to 0.85 centavos in 2018.
Jul-19 inflation hits a double digit growth of +10.3%YoY (+2.3% m/m)
"Despite the uptick, weaker demand pressures and a high base effect will likely keep annual inflation in check.
In a report titled Whither inflation? released , CRISIL proffers two inflation scenarios for this fiscal:
The Wholesale Price Index (WPI)-based inflation was at 2.93 percent and 2.76 percent in February and January this year, respectively, and 3.46 percent in December 2018.
SCI said the report was the first one it has produced in cooperation with the Central Bank of Iran (CBI), which stopped producing inflation figures two months ago under pressure.
The adverse effects of high inflation can fall disproportionately on the poor, who hold most of their assets in cash and rely heavily on wage income, welfare benefits, and pensions, the World Bank said in its report: Inflation in Emerging and Developing Economies: Evolution, Drivers, and Policies, published on Wednesday.
The year-on-year inflation rate of 6.4 percent in August exceeded the 5.5-6.2 percent projected range of the inflation-targeting BSP and was likewise much higher than the consensus forecast of 5.9 percent.
The headline inflation rate, however, remained at 3.7%, showed the monthly inflation bulletin released by the Pakistan Bureau of Statistics on Wednesday.
However, the report cautioned if inflation crossed the 6 percent mark, it could dent economic growth, reported The News.