I tested it using eval as suggested by davies and Anonymous Monk's do:

!/usr/bin/perl -l

use strictures 1;
use Devel::SimpleTrace;

BEGIN {
    use strict 'refs';
    use warnings;
    
    eval {
        do {
            my $hash = {MONTH => 'January'};
            print $$hash{'MONTH'};
        }
    }
}

BEGIN {
    use strict 'refs';
    use warnings;
    
    eval {
        do {
            my $hashInitStr = {'MONTH' => 'January'};
            my $hash1 = $hashInitStr;
            print $$hash1{'MONTH'};
        }
    }
}
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