The Hindu Editorial (Surprise acceleration) – Jul 17, 2024

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The Hindu Editorial (Surprise acceleration) – Jul 17, 2024:

acceleration (noun) – increase, surge.
price gain (noun) – a general increase in the price of something.
erratic (adjective) – unpredictable, inconsistent, inconstant, changeable, variable, irregular, uncertain, turbulent, unsteady.
curb (verb) – control, contain, restrict, limit.
inflation (noun) – simply meaning “cost of living”; increase of price level of goods & services and vice versa decrease of currency value.
provisional (adjective) – temporary, short-term, interim, transitional.
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.
reading (noun) – figure, indication, record, measurement.
snap (verb) – lose one’s self-control, get overwrought, crack, freak out.
downtrend (noun) – decline, downturn, slump.
quicken (verb) – increase, speed up, accelerate, expedite, step up, advance.
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.
log (verb) – achieve, attain; register, record.
culprit (noun) – a thing responsible for causing a problem.
year-on-year (adjective) – year over year (for comparison).
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.
index (noun) – an (economic) data figure reflecting something (e.g. price/quantity) compared with a standard or base value; pointer, indicator.
disconcertingly (adverb) – unsettlingly, disturbingly, worryingly.
sequential (adjective) – happened in sequence/order/succession.
drag (verb) – pull forcefully.
broader superlative adjective of broad (adjective) – comprehensive, extensive, wide, wide-ranging, broad-ranging.
preceding (adjective) – previous, prior, earlier.
unpredictability (noun) – uncertainty, unreliability, instability, fickleness, changeability, volatility, undependability, riskiness/precariousness.
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.
opt (verb) – decide on, choose, select.
emphatic (adjective) – certain, clear, decided, firm, determined, assertive, insistent, outright, one hundred per cent, categorical, unequivocal, unambiguous
observe (verb) – say, mention, comment, remark.
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.
be hostage to something (phrase) – to be influenced and controlled by something.
intersecting (adjective) – overlapping, underlying, convergent.
price shocks (noun) – price shocks are times when the prices for something have drastically increased or decreased over a short span of time.
repetitive (adjective) – recurrent, recurring, unchanging, unvarying; monotonous, tedious, boring, uninteresting, mundane.
call for (phrasal verb) – require, publicly ask/necessitate, demand.
vigil (noun) – vigilance, surveillance, close watch, monitoring.
ward off (phrasal verb) – prevent, block, stop, resist, oppose, repel, drive back, beat back, chase away, turn away, beat off, fend off, stave off.
spillover (noun) – consequence, outcome, repercussion (an unexpected one).
month-on-month (adjective) – used to compare data for one month with that in previous months.
condiment (noun) – ingredients (added to the preparation of the food).
pace (noun) – rate, speed.
outlook (noun) – chances, possibilities, expectations, prospects, future.
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.
on a tear (phrase) – rise quickly; very active.
momentum (noun) – the increase in the rate of growth of something; strength, impetus.
cereal (noun) – a grain or plants that produce it (for example-wheat, maize, rice & etc.).
basket (noun) – a group of something.
food basket (noun) – a group of components/constituents/items related to food.
respite (noun) – stoppage, cessation, discontinuation; break, pause, rest, interval.
India Meteorological Department (IMD) (noun) – an agency under the Ministry of Earth Sciences of the Government of India which is responsible for meteorological observations, weather forecasting and seismology. It has the responsibility for forecasting, naming and distributing warnings for tropical cyclones in the Northern Indian Ocean region, including the Malacca Straits, the Bay of Bengal, the Arabian Sea and the Persian Gulf.
precipitation (noun) – rain, rainfall.
deficit (noun) – shortfall, shortage, inadequacy, deficiency, slippage.
spatially (adverb) – used (in a way) to describe things relating to areas.
skewed (adjective) – uneven, distorted, unbalanced, one-sided, unequal.
deficient (adjective) – inadequate, insufficient, short, scarce, scant, meagre.
unenviable (adjective) – difficult, painful, disagreeable, undesirable, unpleasant.