The Hindu Editorial (Pain from prices) – Dec 15, 2021

The latest inflation data, both retail and wholesale, point to accelerating price gains that could potentially undermine the fragile economic recovery by pushing up costs and depleting consumers’ purchasing power. For further reading, visit “The Hindu”. Below is today’s word list-1 for The Hindu Editorial (Pain from prices) – Dec 15, 2021.

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The Hindu Editorial (Pain from prices) – Dec 15, 2021:

cut (noun) – reduction, decrease, lessening.
inflation (noun) – simply meaning “cost of living”; an increase of price level of goods & services and vice versa decrease of currency value.
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.
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.
Wholesale or Wholesale price Index (WPI) inflation (noun) – The change in the price index of the basket of wholesale goods (and no services) over a period of time is referred to as WPI-based inflation or wholesale inflation.
Wholesale Price Index (WPI) (noun) – The WPI looks at a basket of wholesale goods (goods purchased in large quantities by businesses directly from manufacturers with the intent of reselling them to retailers). the WPI tracks prices at the factory gate before the retail level.
point to (verb) – indicate, suggest, denote.
accelerating (adjective) – increasing, rising, surging, escalating.
price gain (noun) – an increase in the price of something.
potentially (adverb) – likely, possibly, probably.
undermine (verb) – weaken, subvert, sabotage, damage.
fragile (adjective) – easily broken/destroyed, weak, risky, unreliable, insecure.
push up (phrasal verb) – increase, raise.
deplete (verb) – reduce, decrease, diminish, lessen, lower.
purchasing power (noun) – the ability to buy something (goods/services).
year-on-year (adjective) – year over year (for comparison).
quicken (verb) – speed up, accelerate, step up, hasten.
sequential (adjective) – done in sequence; continuous, consecutive.
as many as (phrase) – considerable, substantial, large (number of).
constituent (noun) – component, ingredient, element.
beverage (noun) – a drink, such as tea, coffee, liquor, beer, milk, juice, or soft drinks, usually excluding water.
witness (verb) – see, observe, view, notice.
month-on-month (adjective) – used to compare data for one month with that in previous months.
driver (noun) – motivating force/factor.
a quickening (noun) – an act of making something faster or quicker.
surge (verb) – rise or increase suddenly.
log (verb) – register, record; achieve.
belated (adjective) – late, behind time, not on time/delayed.
marginal (adjective) – small, minor, insignificant.
excise duty (noun) – the taxes levied on the manufacture of goods within the country, (as opposed to custom duty that is levied on goods coming from outside the country).
value-added tax (VAT) (noun) – a consumption tax that is levied on a product repeatedly at every point of sale at which value has been added.
barely (adverb) – only, just, just, hardly.
ease (verb) – reduce, moderate, lessen, decrease.
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.
recreation (noun) – entertainment.
contribute to (verb) – cause, bring about, lead to.
underline (verb) – emphasize, underscore, highlight.
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).
headline inflation (noun) – it is a measure of the total inflation within an economy, including commodities such as food and energy prices.
disconcertingly (adverb) – unsettlingly, disturbingly, worryingly.
sticky (adjective) – awkward, difficult, tricky, problematic, delicate, embarrassing.
elevate (verb) – increase, raise.
provisional (adjective) – temporary, short-term, interim, transitional.
sub index (noun) – sub-indicator.
index (noun) – an (economic) data figure reflecting something (e.g. price/quantity) compared with a standard or base value; pointer, indicator.
acceleration (noun) – increase, rise.
persistently (adverb) – continuously.
climbing (adjective) – rising, going up.
potential (noun) – chance, possibility, potentiality, prospect.
feed through (phrasal verb) – have an impact/effect on something.
down-the-line (adjective) – complete, full, thorough.
add to (phrasal verb) – increase, exacerbate, aggravate.
Inflationary/price/cost pressures (noun) – the demand and supply-side pressures that can cause a rise in the general price level; cost-push inflation, hot-economy, deficit finance.
inflationary (adjective) – tending to cause monetary inflation.
pressure (noun) – demand.
opt (verb) – choose, decide on, select.
absorb (verb) – incorporate, assimilate, integrate, take in, subsume, include.
entrenched (adjective) – confirmed, fixed, set firm, firm, established, well established.
far from (phrase) – not, not at all, nowhere near.
reassuring (adjective) – encouraging, promising, hopeful.
telecoms (noun) – telecommunications.
tariff (noun) – a tax imposed by one country on the goods and services imported from another country.
semiconductor (noun) – a substance that has specific electrical properties that enable it to serve as a foundation for computers and other electronic devices. Semiconductors are materials (silicon or germanium) which have a conductivity between conductors (generally metals like copper) and nonconductors or insulators (such as most ceramics/plastics).
shortage (noun) – shortfall, deficiency, inadequacy, insufficiency.
logistics (noun) – the process of planning & executing a complex work (e.g. transporting goods).
bottleneck (noun) – a condition which appears as not solvable and so delays the process; setback, problem, issue, snag, difficulty.
roil (verb) – disturb; make irritated, make annoyed.
outlook (noun) – prospects, expectations, hopes, likely improvement, lookout, future.
reliant (adjective) – dependent on.
global value chains (GVC) (noun) – International production, trade and investments are increasingly organised within so-called global value chains (GVCs) where the different stages of the production process are located across different countries. (also known as the global supply chain).
contend with (phrasal verb) – deal with, cope with, face, grapple with (a difficult or unpleasant situation).
crude oil (noun) – the raw natural resource that is extracted from the earth and refined into products such as gasoline, jet fuel, diesel and other petroleum products.
onus (noun) – responsibility, duty; burden, liability, obligation.
deepen (verb) – increase.
address (verb) – tackle, deal with, attend to, try to sort out.