Pakistan, Aug. 2 -- Data from the Pakistan Bureau of Statistics (PBS) on Friday showed that consumer inflation accelerated to 4.1 per cent year-on-year in July, up from 3.2pc in June, driven by rising prices for food items, fuels and medicines.

July's consumer price inflation month-on-month was 2.9pc, the bureau said.

The finance ministry on Monday had projected consumer inflation for July to remain in a range of 3.5-4.5pc, citing stable prices and improved supply conditions, as price pressures ease further after the previous fiscal year's sharp decline.

The higher inflation reading follows the State Bank of Pakistan's assessment of a deteriorating inflation outlook, leading it to leave the key interest rate unchanged at 11pc.

The ban...