Food Fuels Indian Inflation Jump
I didn’t expect India to back up my earlier story on rising food prices so quickly!
The latest figures from India’s government show that the national inflation rate jumped to a six-month high of 4.35% in the year to February 9, largely due to… you guessed it… higher food prices.
Specifically, the price of fruit, vegetables and lentils drove the inflation rate higher. While the overall rate is still comfortably below the government’s 5% target level, the current trend in food price inflation, as well as fuel prices, doesn’t bode well for keeping that way.
Speaking of India, my colleague Karim Rahemtulla, Investment Director of both the Xcelerated Profits Report and Smart Profits Report, has written about India pretty extensively since embarking on a two-week investment research trip back in October.
Find out what he had to say about this fast-growing economy of India (and not all of it is as rosy as you might think) and the Indian rupee.
While Karim warns that India’s illiquid stock market can be a dangerous place to invest if you don’t know what you’re doing and don’t know where to look, he’s identified one Indian firm that definitely fits the bill in terms of growth potential. It trades on the U.S. market, too – and he issued a recommendation on it in the Xcelerated Profits Report in January.
Martin
Monday, February 25, 2008 — by Martin Denholm, Managing Editor, Mt. Vernon Research
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