As India hikes fuel prices inflation heads towards 9 to12% - Sensex can lose half of its value in less than a year
Pijush Lodha
Jun. 7, 2008

India’s unofficial inflation rate is above 18% per year. Government cleverly computes it to 8%. But things are changing very fast. The country does not have the resource to subsidize a billion people on fuel when oil price is approaching $140 a barrel. A few years back oil was below $40 a barrel.

The economic brain powers of the nation is embracing a possible round of interest rate rises after the government yesterday released figures showing inflation had surged to fresh highs. The wholesale prices index reached 8.24 per cent in the 12 months to May 24 - its highest level since August 2003. In addition it was on track to breach 9 per cent after the government this week increased heavily subsidised fuel prices.

The worst thing that can happen to a stock market is the rising inflation, economic stagnation and rising interest rates.

The Sensex is in deep trouble. The exodus of foreign ‘funds’ money can cause a series of minisrashes. Sensex can lose half of its value in less than a year.

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