The Hindu Editorial (Food factor) – Mar 16, 2024

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The Hindu Editorial (Food factor) – Mar 16, 2024:

inflation (noun) – simply meaning “cost of living”; increase of price level of goods & services and vice versa decrease of currency value.
retail inflation or consumer price index (CPI) inflation (noun) – it is a measure of the total inflation within an economy, including commodities such as food and energy prices. The CPI monitors retail prices at a certain level for a particular commodity. The change in the price index over a period of time is referred to as CPI-based inflation or retail inflation.
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.
private consumption or consumption expenditure (noun) – the spending by households (consumers) on goods and services, excluding new housing.
underscore (verb) – underline, highlight, emphasize, call attention to.
volatile (adjective) – turbulent, unstable, unsteady, uncertain.
take/hold hostage (phrase) – to keep as a hostage; controlled by particular thing.
broader superlative adjective of broad (adjective) – comprehensive, extensive, wide, wide-ranging, broad-ranging.
lynchpin (noun as modifier) – most important, main, focal, central (thing).
namely (adverb) – that is, that is to say, viz., specifically.
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).
reading (noun) – analysis, account, explanation; indication, measurement.
virtually (adverb) – practically, effectively, in effect, actually, in reality.
preceding (adjective) – previous, prior, earlier.
pace (noun) – rate, speed.
price gain (noun) – a general increase in the price of something.
Consumer Food Price Index (CFPI) (noun) – a measure of change in retail prices of food products consumed by a defined population group in a given area with reference to a base year.
consumer price index (CPI) (noun) – it is defined as the change in the prices of a basket of goods and services that are typically purchased by specific groups of households. To put it simply, it tracks the prices of goods and services purchased by consumers.
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.
accelerate (verb) – escalate, increase/raise rapidly, heighten, intensify.
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.
beverage (noun) – a drink, such as tea, coffee, liquor, beer, milk, juice, or soft drinks, usually excluding water.
year-on-year (adjective) – year over year (for comparison).
disconcerting (adjective) – upsetting, discomfiting, disturbing, unsettling, disquieting, troubling.
acceleration (noun) – increase, rise.
cereal (noun) – a grain or plants that produce it (for example-wheat, maize, rice & etc.).
marginally (adverb) – slightly, somewhat, to some degree.
TOP (abbreviation/acronym) – Tomatoes, onions and potatoes, popularly known as TOP vegetables, are the three largest cultivated, produced and consumed vegetables in India
triumvirate (noun) – a group of three powerful or notable things (or) a group of three powerful or notable people having influence.
constitute (verb) – account for, form, comprise, make up, represent.
weight/weightage (noun) – importance, significance, value (of something when compared with another thing).
led the charge (phrase) – to be the first one to do something.
deflation (noun) – a decrease in the general price level of goods and services.
log (verb) – achieve, attain; register, record.
quicken (verb) – accelerate, step up, increase, surge, rise.
Department of Consumer Affairs (noun) – Department of Consumer Affairs is one of the two Departments under the Ministry of Consumer Affairs, Food & Public Distribution. It was constituted as a separate Department in June 1997 as it was considered necessary to have a separate Department to give a fillip to the nascent consumer movement in the country.
dashboard (noun) – a type of web based graphical user interface which often provides immediate views of visualization, analytics and key performance indicators (KPIs) relevant to a particular objective or business process.
respite (noun) – break, pause, rest, interval, breathing space, stoppage.
front (noun) – a particular situation; a particular field of activity.
reign (verb) – persist, hold; be in a situation; be present.
measure (noun) – action, step, move.
cool (verb) – reduce, lessen, diminish, decrease.
outlook (noun) – prospects, chances, possibilities, expectations, future.
far from (phrase) – not, not at all; nowhere near, a long way from.
reassuring (adjective) – optimistic, favourable, encouraging, promising, hopeful.
horticulture (noun) – gardening, cultivation of plants, agriculture.
crop (noun) – a plant that is grown in large quantities.
project (verb) – forecast, predict, estimate, calculate.
deficit (noun) – shortfall, deficiency, shortage, undersupply, slippage.
Central Water Commission (CWC) (noun) – a premier Technical Organization of India in the field of Water Resources and is presently functioning as an attached office of the Ministry of Jal Shakti, Department of Water Resources, River Development and Ganga Rejuvenation, Government of India. The Commission is entrusted with the general responsibilities of initiating, coordinating and furthering in consultation of the State Governments concerned, schemes for control, conservation and utilization of water resources throughout the country, for purpose of Flood Control, Irrigation, Navigation, Drinking Water Supply and Water Power Development.
reservoir (noun) – a natural or artificial place (lake/pond/dam/etc.) where water is stored.
trail (phrasal verb) – lose, lag behind, drop behind, fall behind.
portend (verb) – indicate, denote, herald, signal, presage, augur/bode.
sown (verb) – past participle of sow; plant, seed.
so (adjective) – accurate, correct, true, valid, spot-on.
acute (adjective) – sharp, intense.
aptly (adverb) – properly, correctly, rightly, appropriately.
sum up (phrasal verb) – summarize, outline, encapsulate, put in a nutshell.
persistently (adverb) – continuously, constantly, steadily, steadfastly, invariably.
food inflation (noun) – the condition of an increase in the wholesale price index of a necessary food item relative to the general index or the consumer price index (CPI) is referred to as food inflation. In layman’s language, it is basically the rise in the cost of an essential food item relative to the previous price.
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.
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.
observe (verb) – comment, remark, say, mention.
account for (phrasal verb) – constitute, form, comprise, make up, represent.
Gross domestic product (GDP) (noun) – a measure of economic activity in a country. the total value of all final goods and services produced within the country in one financial year.
languish (verb) – lose energy, lose confidence, lose strength, lose vigour, flop, suffer, experience hardship.
strain (noun) – pressure, stress, demand/burden.
elevated (adjective) – increased, raised.
telling (adjective) – interesting, significant, suggestive, expressive, indicative, informative, revealing, disclosing, meaningful.
restrain (verb) – limit, restrict, control, contain, regulate, restrict.
inclusive (adjective) – all-inclusive, wide-ranging, comprehensive, all-embracing, all-encompassing.
sustained (adjective) – continuous, constant, steady, perpetual.
have one’s task cut out (phrase) – be faced with a tough task/work to do; faced with a lot of hard work to accomplish something.
discontent (noun) – disappointment, dissatisfaction, disgruntlement, resentment, grievances, unhappiness, displeasure.