MANILA -- Inflation likely accelerated in August from 5.7 in the previous month, possibly hitting 6 percent, with damage wrought by monsoon rains seen pushing prices higher, analysts said.

Bangko Sentral ng Pilipinas Governor Nestor Espenilla told ANC on Aug. 24 that inflation would likely peak in August or September and it was his "expectation" that it would not reach 6 percent.

The last time inflation breached 6 percent was at 6.6 percent in March 2009. It slowed to 5.6 percent the following month and had not breached 6 percent since.

Consumer prices likely rose due to rains in the first 2 weeks of August. Rice prices also spiked during the period, said Ateneo Center for Economic Research and Development director Alvin Ang.

"With these numbers coming out, it's very likely that we are probably hitting 6 percent this August," Ang told ANC.

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Six-percent inflation in August is a "possibility," said Regina Capital managing director Luis Limlingan.

"There are a lot of factors beyond our control and the main culprit I think is the weather," he told ANC.

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