The Hindu Editorial (Staying watchful) – Jul 14, 2022

The concerted efforts made by the Reserve Bank and the Union government to contain inflation appear to be having some impact, albeit marginal, in slowing the pace of price gains, the latest retail inflation data show… For further reading, visit “The Hindu”. Below is today’s word list-1 for The Hindu Editorial (Staying watchful) – Jul 14, 2022.

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The Hindu Editorial (Staying watchful) – Jul 14, 2022:

watchful (adjective) – alert, vigilant, hypervigilant, attentive, perceptive, observant.
inflation (noun) – simply meaning “cost of living”; increase of price level of goods & services and vice versa decrease of currency value.
undermine (verb) – weaken, subvert, sabotage, damage.
macroeconomic (adjective) – relating to the branch of economics concerned with large-scale factors (interest rates/national productivity).
macroeconomic stability (noun) – it describes a national economy that has minimized vulnerability to external shocks, which in turn increases its prospects for sustained growth. ‘Macroeconomic stability’ means that government budgets need to be broadly in balance so that borrowings to finance the deficit are kept to the minimum.
concerted (adjective) – involving a lot of people coming together & doing something with great effort; strenuous, vigorous, energetic, determined, active, intense; coordinated, collaborative, collective, combined, joint.
contain (verb) – limit, restrict, control, restrain, curb.
albeit (conjunction) – though, even though, however.
marginal (adjective) – slight, small, minimal, insignificant, negligible.
price gain (noun) – a general increase in the price of something.
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.
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.
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 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.
ease (verb) – decrease, lessen, diminish, reduce, lower.
imperceptibly (adverb) – unnoticeably, invisibly, gradually, slightly, minutely.
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.
basket (noun) – a group of something (taxes, investments, commodities, etc.).
pulses (noun) – edible seeds (chickpeas, lentils, beans). (dals).
edible oil (noun) – cooking oil; fat of plant, animal or microbial origin, which is liquid at room temperature and is suitable for food use.
shrank past of shrink (verb) – lessen, reduce, decrease.
on the boil (phrase) – it refers to a situation which is very strong or active or intense.
amid (preposition) – in the middle of, surrounded by; during.
supply shock (noun) – a sudden and unexpected change in a cost variable, such as oil prices, commodity prices or wages (or) an event that suddenly increases or decreases the supply of a commodity or service, or of commodities and services in general.
cool (verb) – lessen, moderate, abate, diminish, reduce, dampen.
year-on-year (adjective) – year over year (for comparison).
decelerate (verb) – slow down, reduce, lessen, slow up.
whopping (adjective) – huge, massive, very large, substantial.
index (noun) – an (economic) data figure reflecting something (e.g. price/quantity) compared with a standard or base value; pointer, indicator.
sequential (adjective) – consecutive, continuous, unbroken, uninterrupted.
contract (verb) – decline, decrease, diminish, reduce.
preceding (adjective) – previous, prior, earlier.
measure (noun) – action, step, procedure.
translate (verb) – change, convert, transform.
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).
manifest (verb) – indicate, show, reflect, prove, establish, substantiate, corroborate, verify, confirm.
easing (noun) – reduction, moderation, lessening, decrease.
sequentially (adverb) – in succession, successively, continuously.
premature (adjective) – untimely, early, too soon, too early, before time; ill-timed, ill-considered.
drop one’s guard (phrase) – to become less careful, to become less vigilant, to become less alert.
sub index (noun) – sub-indicator.
span (verb) – extend over, stretch across, spread over, cover, range over, comprise.
spice (noun) – aromatic vegetable products (e.g. pepper) used to season/flavor foods.
vigil (noun) – watch, close watch, monitoring, surveillance.
ward off (phrasal verb) – avert, rebuff, rebut, fend off, stave off, oppose, resist, prevent, hinder, obstruct, thwart, check, stop.
build-up (noun) – increase, growth, expansion, spread, enlargement, escalation.
Inflationary/price 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.
cereal (noun) – a grain or plants that produce it (for example-wheat, maize, rice & etc.).
accelerate (verb) – increase, rise, escalate.
produce (noun) – all agricultural products.
moderate (verb) – lessen, decrease, diminish.
provided (conjunction) – if, on condition that, provided that, presuming that, assuming, assuming that, on the assumption that, given that.
adversely (adverb) – unfavourably, disadvantageously, badly.
hit (verb) – affect badly, damage.
appreciable (adjective) – sizeable, considerable, significant,.
softening (noun) – decrease, reduction, lessening, moderation.
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.
respite (noun) – rest, break, interval, intermission, halt.
depreciation (noun) – devaluation, decrease in value.
spectre (noun) – threat, menace, danger/peril.
imported inflation (noun) – when the general price level rises in a country because of the rise in prices of imported commodities, inflation is termed as “imported inflation”.
bound to (adjective) – sure, likely, guaranteed.
pressure (noun) – burden, load, weight, strain, stress.
authorities (noun) – officials, officialdom, the people in charge, the government the bureaucracy.
recognition (noun) – (formal) acknowledgement, acceptance, admission.
let-up (noun) – respite, break, interval, stop, pause, breathing space, lull, interlude, intermission.