The Hindu Editorial (Spectre of stagflation) – Mar 20, 2023

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The Hindu Editorial (Spectre of stagflation) – Mar 20, 2023:

spectre (noun) – threat, menace, danger/peril.
stagflation (noun) – a period of rising inflation, slowing economic growth & rising unemployment. (inflation is the sustained/continuous rise in the overall price level of goods and services in the economy).
macroeconomic (adjective) – relating to the branch of economics concerned with large-scale factors (interest rates/national productivity).
outlook (noun) – expectations, prospects, expectancy, future, lookout.
dampen (verb) – lessen, moderate, abate, diminish, reduce.
development (noun) – turn of events, happening, circumstance, situation.
head for (phrasal verb) – proceed or go in a certain direction; go toward.
spell (verb) – signal, point to, bring about, bring on, result in, lead to, cause.
debilitating (adjective) – weakening, disabling, exhausting, undermining, impairing, paralyzing, immobilizing.
debilitate (verb) – weaken, paralyze, immobilize, disable, undermine, exhaust.
Retail or Consumer Price Index (CPI) inflation (noun) – The change in the price index of the basket of consumer goods and services over a period of time is referred to as CPI-based inflation or retail inflation.
reading (noun) – figure, indication, measurement, record.
National Statistical Office (NSO) (noun) – The Ministry of Statistics and the Department of Programme Implementation has two wings, one relating to Statistics and the other Programme Implementation. The Statistics Wing called the National Statistical Office (NSO) gives considerable importance to coverage and quality aspects of statistics released in the country. The statistics released are based on administrative sources, surveys and censuses conducted by the Center and State Governments and non-official sources and studies.
belie (verb) – contradict, disprove, falsify, discredit, distort.
forecast (noun) – prediction, indication, projection, prognosis, speculation, calculation (of future events or trends).
inflation (noun) – simply meaning “cost of living”; increase of price level of goods & services and vice versa decrease of currency value.
log (verb) – register, record; achieve.
price gain (noun) – a general increase in the price of something.
soften (verb) – decrease, reduce, lessen, moderate.
as to (phrase) – concerning, respecting, with respect to, on the subject of, as regards, regarding.
drag down (phrasal verb) – bring something to a lower level.
headline inflation (noun) – it is a measure of the total inflation within an economy, including commodities such as food and energy prices.
core inflation (noun) – it is a measure of the total inflation within an economy, excluding commodities such as food and energy prices (which change frequently).
basis point (BPS) (noun) – a unit of measure used in finance to describe the percentage change in the value or rate of a financial instrument. One basis point is equivalent to 0.01% (1/100th of a percent). Used for measuring change in interest rate/yield.
come true (phrase) – be fulfilled, be realized, become a reality, happen, occur, take place.
look (noun) – observation, examination, inspection, view ,study.
drive (verb) – prompt, push, press, force, exert.
strip out (phrasal verb) – to remove some integral element/aspect of something.
hover (verb) – remain at a level.
persistently (adverb) – continuously, constantly.
elevated (adjective) – increased, raised.
benchmark (noun) – standard, base/basis, point of reference, criterion, ideal.
benchmark interest rate (noun) – a minimal/minimum interest rate set and published by commercial banks for accumulating interest on different credit types.
reveal (verb) – indicate, show, point to, suggest, signal, signify, denote.
monetary authority (noun) – it refers to the institution (mostly central bank) responsible for managing the currency of a country, establishing interest rates, and controlling its money supply. The goals of a country’s central bank include stabilizing prices, fostering economic growth, and increasing employment. (The Reserve Bank of India (RBI) is the central bank and financial regulatory authority of India.
authorities (noun) – officials, officialdom, the people in charge, the government the bureaucracy.
tamp down (phrasal verb) – reduce, press down, compress.
so as to (phrase) – in order to.
The monetary policy committee (MPC) (noun) – it is a six-member panel that is expected to bring “value and transparency” to rate-setting decisions. It will feature three members from the RBI — the Governor, a Deputy Governor and another official — and three independent members to be selected by the Government. The MPC will meet four times a year to decide on monetary policy by a majority vote.
cite (verb) – mention, point to, refer to.
persistence (noun) – continuance, continuity, dependability, changelessness.
justification (noun) – grounds, reason, rationale, basis, explanation, excuse, vindication.
tightening (noun) – an act of making something stricter/rigorous.
monetary policy (noun) – monetary policy refers to the use of monetary instruments under the control of the central bank to regulate magnitudes such as interest rates, money supply, and availability of credit with a view to achieving the ultimate objective of economic policy mentioned in the Reserve Bank of India Act, 1934.
queer the pitch (phrase) – to spoil something that someone had planned to do (in order to achieve something).
basket (noun) – a group of something (taxes, investments, commodities, food items and etc.).
disconcerting (adjective) – discomfiting, unsettling, disturbing, troubling.
marginal (adjective) – slight, small, minimal, insignificant, negligible.
deceleration (noun) – slowing down, easing off, reduction, diminishing, lessening.
composite (adjective) – combined/complex.
index (noun) – an (economic) data figure reflecting something (e.g. price/quantity) compared with a standard or base value; pointer, indicator.
food price index (noun) – a measure of the monthly change in prices of a basket of food commodities.
account for (phrasal verb) – constitute, make up, comprise, form, compose, represent.
Consumer Price Index (CPI) (noun) – The CPI looks at the basket of consumer goods and services and it measures the change in price of this basket over a period of time. To put it simply, the CPI monitors retail prices at a certain level for a particular commodity.
significantly (adverb) – considerably, substantially, appreciably.
register (verb) – achieve; record, show, display.
year-on-year (adjective) – year over year (for comparison).
sequential (adjective) – happened in sequence/order/succession.
hardening (noun) – a process (of price of something) rising, increasing (and be firm at a higher level).
harden (verb) – (of price of something) rise, increase (and be firm at a higher level).
staple (adjective) – most important element of something; main, principal, major, primary, leading, foremost element of something .
cereal (noun) – a grain or plants that produce it (for example-wheat, maize, rice & etc.).
headline (adjective) – relating to a rate of inflation based on the consumer price index (CPI).
surge (verb) – accelerate, step up, increase, quicken, rise.
tad (adverb) – rather, quite, moderately, a little.
likely (adjective) – possible, potential, probable.
El Nino (noun) – an unusual/abnormal warming of the waters across the central and eastern equatorial Pacific that lies closer to the Americas). La Niña means abnormal cooling.
hardly (adverb) – barely, almost not.
reassuring (adjective) – encouraging, promising, hopeful, heartening.
contain (verb) – control, limit, curb, restrain, reduce, lessen, decrease.
uncertainty (noun) – unpredictability, unreliability, riskiness/precariousness.
sustain (verb) – continue, carry on, keep up, maintain, bolster up.
momentum (noun) – the increase in the rate of growth of something; strength, impetus.
in the face of (phrase) – despite, notwithstanding, regardless of; when confronted with.
heightened (adjective) – increased, intensified, amplified.
recession (noun) – economic decline, slowdown, downturn, depression, slump.
engender (verb) – cause, give rise to, bring about, produce, create, (a particular feeling, atmosphere, or situation).
enduring (adjective) – continuing, lasting, persisting.
price stability (noun) – no (drastic) change in the price of goods and services in an economy over a period of time. It implies avoiding both prolonged inflation and deflation.
lead to (verb) – result in, cause, bring on, bring about, give rise to.
measure (noun) – action, act, step, procedure.
rationalisation (noun) – systematisation, formalisation, rationale, justification.
expedite (verb) – speed up, accelerate, step up, quicken.