I looked at inflation in emerging markets in MoneyWeek Asia this time.

Out-of-control inflation was the big worry in EMs earlier this and the explanation for why they were underperforming (usually there’s never just one explanation, but that was the narrative people latched onto).

The good news now is that inflation seems to be ebbing, as you’d expect with global growth slowing and EM central banks tightening policy. Obviously, fears over Europe and the world economy dominate at the moment, but hopefully this is setting EMs up to do better in 2012-2013.