The Hindu Editorial (Statistical succour) – May 15, 2023

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The Hindu Editorial (Statistical succour) – May 15, 2023:

succour (noun) – (financial) help, aid, assistance, relief.
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.
cannot afford/can ill afford (phrase) – if you cannot afford to do something, you must prevent it from happening because it would be embarrassing and cause problems (if it happens).
drop one’s guard (phrase) – to become less careful, to become less vigilant, to become less alert.
inflation (noun) – simply meaning “cost of living”; increase of price level of goods & services and vice versa decrease of currency value.
reading (noun) – figure, indication, record, measurement.
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.
brake (verb) – slow down, reduce, lessen, decelerate, slow up.
in no small measure (phrase) – to a very great extent.
price gain (noun) – a general increase in the price of something.
hit (verb) – reach, attain (a level/stage).
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).
cool (verb) – lessen, moderate, abate, diminish, reduce, dampen.
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.
month-on-month (adjective) – used to compare data for one month with that in previous months.
provisional (adjective) – temporary, short-term, interim, transitional.
quickening (noun) – acceleration, increase, stepping up.
on the back of (phrase) – due to, as a result of, because of.
year-on-year (adjective) – year over year (for comparison).
softening (noun) – decrease, reduction, lessening, moderation.
ease (verb) – lessen, reduce, moderate.
lockstep (noun) – in agreement with someone mindlessly and has exactly the same ideas/opinions that someone else has, often without questioning them in any way.
index (noun) – an (economic) data figure reflecting something (e.g. price/quantity) compared with a standard or base value; pointer, indicator.
slid past participle of slide (verb) – fall, slip, drop, decrease, slump.
deflation (noun) – a decrease in the general price level of goods and services.
cereal (noun) – a grain or plants that produce it (for example-wheat, maize, rice & etc.).
weight (noun) – larger number, bulk, lion’s share.
preceding (adjective) – previous, prior, earlier.
accelerate (verb) – increase, rise, quicken.
sequentially (adverb) – in succession, successively, continuously.
beverage (noun) – a drink, such as tea, coffee, liquor, beer, milk, juice, or soft drinks, usually excluding water.
basket (noun) – a group of something (taxes, investments, commodities, etc.).
deflationary (adjective) – characterized by or tending to cause economic deflation.
territory (noun) – sphere, arena, domain.
surge (verb) – increase suddenly.
of concern (phrase) – If something is of concern, then it is worrying & unsatisfactory.
pulses (noun) – edible seeds (chickpeas, lentils, beans). (dals).
confectionery (noun) – sweets and chocolates (as a whole).
acceleration (noun) – increase, quickening, stepping up.
crop (noun) – a plant that can be grown and harvested extensively for profit or subsistence.
tighten (verb) – make stricter, make more rigorous, make more stringent, stiffen, toughen.
so as to (phrase) – in order to.
head off (phrasal verb) – prevent, avoid, stop, avert, fend off, stave off.
hoard (verb) – store up, stock up on, stockpile, put aside, set aside, amass, heap up, pile up, stack up.
push up (phrasal verb) – increase, raise.
mull (verb) – think over/about, consider, ponder, contemplate, deliberate.
curb (verb) – restrain, control, limitation, restriction.
amid (preposition) – in the middle of, surrounded by; during.
shortfall (noun) – deficit, inadequacy, deficiency.
to be sure (phrase) – certainly.
besides (preposition) – apart from, other than, excluding, in addition to.
bound (adjective) – certain, very likely, guaranteed
tolerance (noun) – deviation, fluctuation, variation.
threshold (noun) – it is an amount, level, or limit of something. Once the threshold is reached, something else happens or changes; lower limit, starting point, point of entry.
tolerance threshold (noun) – maximum allowable departure/deviation from a standard one.
quarter (noun) – a period of three months (considered as one-fourth of a year).
room (noun) – scope, chance, leeway, freedom, latitude, opportunity (for something to happen).
complacency (noun) – carelessness, laziness, laxity; self-satisfaction, smugness, self-regard.
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.
flag (verb) – indicate, identify, point out.
loom (verb) – be imminent, be impending, be close.
outlook (noun) – expectations, prospects, future, lookout.
uncertainty (noun) – unpredictability, unreliability, riskiness/precariousness.
heightening (adjective) – exacerbating, intensifying, increasing.
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.
forebode (verb) – indicate, predict, foretell, portend (something, a bad or misfortune situation) in advance.
erratic (adjective) – inconsistent, irregular, random.
deficient (adjective) – insufficient, meagre, inadequate.