The Hindu Editorial (Tenuous tack) – Feb 17, 2022

India’s inflation based on the consumer price index quickened to 6.01% in January, breaching the central bank’s upper tolerance limit of 6%. For further reading, visit “The Hindu”. Below is today’s word list-1 for The Hindu Editorial (Tenuous tack) – Feb 17, 2022.

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The Hindu Editorial (Tenuous tack) – Feb 17, 2022:

tenuous (adjective) – slight, insubstantial, negligible, weak/shaky; doubtful, dubious, questionable, vague, unspecific, indefinite.
tack (noun) – approach, way, method; course of action, policy.
stance (noun) – point of view, approach, standpoint.
recalibrate (verb) – reevaluate, reassess, revamp.
inflation (noun) – simply meaning “cost of living”; increase of price level of goods & services and vice versa decrease of currency value.
projection (noun) – forecast, prediction, estimation, calculation.
shift (verb) – change, alter, adjust, amend, recast, revise.
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.
index (noun) – an (economic) data figure reflecting something (e.g. price/quantity) compared with a standard or base value; pointer, indicator.
quicken (verb) – increase, speed up, accelerate, expedite, step up, advance.
breach (verb) – break, contravene, violate.
the central bank (noun) – The banking regulator of a county’s banking system. (e.g. The Reserve Bank of India (RBI) is the central bank of India).
tolerance (noun) – deviation, fluctuation, variation.
headline (adjective) – relating to a rate of inflation based on the consumer price index (CPI).
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).
it is no surprise (phrase) – as expected, as anticipated, as predicted.
given (preposition) – considering, taking into account, bearing in mind.
forecast (verb) – predict, project, estimate.
acceleration (noun) – increase, quickening, stepping up.
merit (verb) – deserve, warrant, justify.
scrutiny (noun) – examination, inspection, investigation.
provisional (adjective) – temporary, short-term, interim, transitional.
hinterland (noun) – remote areas of a country away from the coastal areas/the banks of major rivers.
proportion (noun) – part, portion, percentage; ratio, distribution.
bear the brunt (phrase) – to suffer or endure the worst part of something (force/burden/pressure) when a very bad or unpleasant thing happens.
food price inflation (noun) – the rise in the prices of most goods and services of food & related things.
sprint (verb) – speed (up), rush, shoot (up), increase.
normalise (verb) – alter, regulate, fine-tune, calibrate
pandemic (noun) – the worldwide spread of a new disease; The illness spreads around the world and typically affects a large number of people across a wide area.
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.
reaffirm (verb) – assert, state, say again strongly.
resolve (verb) – decide, determine, take a decision.
contain (verb) – control, curb, keep under control, restrain, limit.
retain (verb) – maintain, keep, continue.
status quo (noun) – the present situation, the current state, the existing state of affairs.
in order to (phrase) – with the purpose/aim of.
defend (verb) – justify, vindicate, support, uphold, back.
cite (verb) – refer to, adduce, make reference to, invoke.
base effect (noun) – it relates to inflation in the corresponding period of the previous year, if the inflation rate was too low in the corresponding period of the previous year, even a smaller rise in the Price Index will arithmetically give a high rate of inflation now.
fiscal (noun) – financial (year).
enable (verb) – allow, permit, facilitate.
downtrend (noun) – decline, downturn, slump.
assumption (noun) – thought, belief, notion, conclusion, impression.
unravel (verb) – fall apart, come apart, fail, collapse, go wrong; undo, untie.
storm (noun) – (figuratively) trouble, disturbance, controversy.
storm cloud (noun) – (figuratively) a threatening situation/condition.
on the horizon (phrase) – imminent, impending, approaching, near/close, just around the corner.
intensify (verb) – increase, escalate, raise; aggravate, exacerbate, compound.
uncertainty (noun) – unpredictability, unreliability, riskiness/precariousness.
tension (noun) – strained relations; strain, stress, pressure, unease.
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.
reflect (verb) – indicate, show, display, demonstrate.
a mite (adverb) – slightly, a little.
pump price (noun) – the retail selling price of petrol/diesel (to the public).
static (adjective) – unchanged, fixed, stable, steady.
pass (on) (verb) – transfer, hand over, transmit.
spur (verb) – stimulate, encourage, prompt, galvanize.
cut (verb) – reduce, decrease, lessen.
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).
result in (phrasal verb) – cause, bring on, bring about.
exchequer (noun) – treasury, coffers; funds/resources/finances.
add to the mix (phrase) – to add another idea to an ongoing discussion.
outlook (noun) – prospects, expectations, hopes, likely improvement, lookout, future.
cloudy (adjective) – indefinite, uncertain, unclear.
IHS Markit (noun) – it is a global leader in information, analytics and solutions for the major industries and markets that drive economies worldwide. It partners with clients in business, finance and government to help them see the big picture with unrivaled insights that lead to well-informed, confident decisions.
Purchasing Managers’ Index (PMI) (noun) – Purchasing Managers Index (PMI) is a monthly business survey data provided by IHS Markit. The monthly data are derived from surveys of senior executives at private sector companies. PMI data is used for accurate and timely insight into the health of a particular economy. The PMI data are used by financial and corporate professionals to better understand where economies and markets are headed, and to uncover opportunities.
expand (verb) – increase.
ease (verb) – reduce, moderate, lessen, decrease.
prospect (noun) – possibility, chance, probability, likelihood.
stem from (phrasal verb) – originate from, arise/come from, emanate from.
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.
household (noun) – family, house.
comforting (adjective) – reassuring, relieving, heartening, uplifting, encouraging.
perception (noun) – understanding, discernment, recognition/realization; interpretation.
markedly (adverb) – noticeably, decidedly, distinctly, remarkably, clearly.
constrain (verb) – restrict, limit, control, restrain.
National Statistical Office (NSO) (noun) – The Ministry of Statistics and the Department of Programme Implementation has two wings, one relating to Statistics and the other Programme Implementation. The Statistics Wing called the National Statistical Office (NSO) gives considerable importance to coverage and quality aspects of statistics released in the country. The statistics released are based on administrative sources, surveys and censuses conducted by the Center and State Governments and non-official sources and studies.
advance (noun) – preliminary, early, prior.
Gross domestic product (GDP) (noun) – a measure of economic activity in a country. It is the total value of a country’s annual output of goods and services.
private consumption or consumption expenditure (noun) – the spending by households (consumers) on goods and services, excluding new housing.
lag behind (verb) – trail, straggle, fall behind, move slowly.
pre-pandemic (noun) – before the pandemic.
worsening (noun) – deterioration, aggravating, compounding, intensification.
front (noun) – a particular condition/situation.
objective (noun) – aim, intention, purpose, target, goal.
hold down (phrasal verb) – limit, restrict, confine, circumscribe.
assert (verb) – argue, state, avow, insist, announce, declare (confidently).
price stability (noun) – no (drastic) change in the price of goods and services in an economy over a period of time. It implies avoiding both prolonged inflation and deflation.
mandate (noun) – instruction, direction, order, requirement.
risk (verb) – cause, bring on, bring about, result in (a bad or unfortunate event).
credibility (noun) – trustworthiness, reliability, dependability.