Hindi English Translation || Editorial || Growing price pressures: On need to tame inflation

Growing price pressures: On need to tame inflation

Policymakers need to tame inflation (मुद्रास्फीति) or risk (जोखिम, खतरा) it undermining (कमजोर करना, तोड़ना, क्षति पहुँचाना) the growth they are supporting

Inflation in India continues on a worrying uptrend (an upward tendency) with the consumer price index-based reading (अध्ययन, आंकड़ा, संख्या) accelerating to an eight-month high of 6.07% last month, while wholesale prices logged a double-digit increase for the eleventh straight month. February’s headline (शीर्षक, मुख्य समाचार) WPI inflation spurted (तेज़ी से चढ़ना, उछाल, गतिविधि की वृद्धि) to 13.11%. Retail inflation remained stuck (अटका हुआ, फँसा हुआ) above the RBI’s upper tolerance (सहनशीलता, विचलन, उतार-चढ़ाव) threshold (सीमा रेखा, दहलीज़) of 6% for the second month, as food price inflation quickened to 5.85%. Households in the hinterland bore a bigger brunt (full force, impact, shock, burden, pressure, strain) of the burden (बोझ, समस्या, चिंता) as price gains (मूल्य लाभ) measured by the consumer food price index for rural areas surged (increase suddenly, rise, grow) by 69 basis points (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) from January’s level, to 5.87%. Price gains in the key protein source of meat and fish jumped by almost 200 basis points from the preceding (previous, prior, earlier) month to 7.45%, while nutrient-rich ((of nutrients) abounding in, well provided with, well supplied with) vegetables also logged inflation of 6.13% in February, belying the central bank’s (The banking regulator of a county’s banking system. (e.g. The Reserve Bank of India (RBI) is the central bank of India)) prognostication (prediction, forecast, projection) last month of an “expected easing of vegetable prices on fresh winter crop (a plant that is grown in large quantities) arrivals”. And even though inflation in oils and fats eased (decrease, reduce, lower, moderate) by more than 220 basis points to 16.44%, there is little room for cheer, given (considering, taking into account, bearing in mind) that one can expect a spike again this month in the wake (as a result of, in the aftermath of, as a consequence of) of the abrupt disruption in the supply of edible oils from war-torn ((of a place) devastated, ruined, wrecked (by war)) Ukraine, which is the largest source of sunflower oil imported into India. With price gains in clothing and footwear, fuel and light and transport and communication all running well above 8% levels, the overall trend in retail inflation is now clearly broad-based (wide-ranging, comprehensive, general) across consumption categories and disconcertingly way above tolerance levels.

Also, with the pump prices (the retail selling price of petrol/diesel (to the public)) of fuels yet to reflect the recent upsurge (sudden increase, rise, growth, inflation) in international oil prices in the wake of Russia’s invasion (occupation, conquering, capture, seizure, annexation, annexing, takeover) of its southwestern neighbour (a country that is next to another country; (bordering) country), transport and communication inflation is certain (sure, very likely, bound, inevitable) to climb (increase, rise, go up) sharply once state-run ((state) government-owned) refiners reset prices to reflect crude costs. The price of India’s crude basket (a group of something (taxes, investments, commodities, etc.)) had already risen by over $20 a barrel since December to $94.07 last month and with global crude prices currently in uncharted (unexplored, unknown, unfamiliar, strange) territory (area of concern, area of interest, area of knowledge) on account of (because of, owing to, due to, as a result of) the war, and the rupee having weakened by about 2.5% against the dollar since the start of the conflict, it is hard to see any near-term relief on the fuel price front (a particular situation; a particular sphere of activity). A glance (brief look, glimpse, sight) at last month’s producer prices of the energy basket (it is usually comprised of several commodities. Coal, natural gas, biomass and uranium are responsible for most nations’ electricity generation while petroleum and its products dominate the transportation sector) shows inflation in the fuel and power category of the wholesale price index (थोक मूल्य सूचकांक) was at 31.5%. And in a sign that manufacturers are no longer able to keep absorbing cost pressures, inflation in manufactured products accelerated (बढ़ना) to 9.84% presaging (augur, portend, indicate) more pain for consumers. RBI Deputy Governor Michael D. Patra had last week cited (invoke, refer to, adduce, resort to) the headroom (scope, clearance, extent) available for the Government to cut taxes on fuels as a source of comfort on the inflation front. With the RBI’s latest consumer confidence survey showing most households reporting further increases in overall spending on essentials and remaining far from (not, not at all; nowhere near, a long way from) sanguine (optimistic, hopeful, confident, positive, cheerful (particularly in a difficult situation)) on the prices outlook, policymakers need to act expeditiously (quickly and efficiently) to tame inflation or risk it undermining the very growth they are currently focused on supporting.

Courtesy: The Hindu

Important Word List With Meaning

1.inflation (noun)

Hindi Meaning - मुद्रास्फीति
English Meaning - simply meaning “cost of living”; increase of price level of goods & services and vice versa decrease of currency value.

2.risk (verb)

Hindi Meaning - जोखिम, खतरा
English Meaning - result in, cause, bring on, bring about, call forth, give rise to;

3.undermine (verb)

Hindi Meaning - कमजोर करना, तोड़ना, क्षति पहुँचाना
English Meaning - weaken, subvert, sabotage, damage.

4.consumer price index (CPI) (noun)

Hindi Meaning - उपभोक्ता मूल्य सूचकांक
English Meaning - a monthly measurement of prices for most household goods and services.

5.reading (noun)

Hindi Meaning - अध्ययन, आंकड़ा, संख्या
English Meaning - figure, number, measurement, indication.

6.accelerate (verb)

Hindi Meaning - बढ़ना
English Meaning - increase, rise, escalate.

7.headline (adjective)

Hindi Meaning - शीर्षक, मुख्य समाचार
English Meaning - relating to a rate of inflation based on the consumer price index (CPI).

8.Wholesale Price Index (WPI) (noun)

Hindi Meaning - थोक मूल्य सूचकांक
English Meaning - 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.

9.core inflation (noun)

Hindi Meaning - मूल स्फीति
English Meaning - it is a measure of the total inflation within an economy, excluding commodities such as food and energy prices (which change frequently).

10.spurt (verb)

Hindi Meaning - तेज़ी से चढ़ना, उछाल, गतिविधि की वृद्धि
English Meaning - increase of activity.

11.stuck (adjective)

Hindi Meaning - अटका हुआ, फँसा हुआ
English Meaning - fixed.

12.tolerance (noun)

Hindi Meaning - सहनशीलता, विचलन, उतार-चढ़ाव
English Meaning - deviation, fluctuation, variation.

13.threshold (noun)

Hindi Meaning - सीमा रेखा, दहलीज़
English Meaning - 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.

14.burden (noun)

Hindi Meaning - बोझ, समस्या, चिंता
English Meaning - problem, worry, affliction, difficulty, misfortune.

15.price gain (noun)

Hindi Meaning - मूल्य लाभ
English Meaning - a general increase in the price of something.

16.Wholesale or Wholesale price Index (WPI) inflation (noun)

English Meaning - 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.

17.log (verb)

English Meaning - register, record; achieve.

18.uptrend (noun)

English Meaning - an upward tendency.

19.Inflationary/price pressures (noun)

English Meaning - the demand and supply-side pressures that can cause a rise in the general price level; cost-push inflation, hot-economy, deficit finance.

20.tame (verb)

English Meaning - control, curb, mitigate, moderate.

21.headline inflation (noun)

English Meaning - it is a measure of the total inflation within an economy, including commodities such as food and energy prices.

22.Retail or Consumer Price Index (CPI) inflation (noun)

English Meaning - 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.

23.brunt (noun)

English Meaning - full force, impact, shock, burden, pressure, strain.

24.bear the brunt (phrase)

English Meaning - to suffer or endure the worst part of something (force/burden/pressure) when a very bad or unpleasant thing happens.

25.surge (verb)

English Meaning - increase suddenly, rise, grow.

26.basis point (BPS) (noun)

English Meaning - 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.

27.jump (verb)

English Meaning - rise, go up.

28.preceding (adjective)

English Meaning - previous, prior, earlier.

29.nutrient-rich (adjective)

English Meaning - (of nutrients) abounding in, well provided with, well supplied with.

30.belying present participle of belie (verb)

English Meaning - misrepresent, falsify, distort.

31.central bank (noun)

English Meaning - The banking regulator of a county’s banking system. (e.g. The Reserve Bank of India (RBI) is the central bank of India).

32.prognostication (noun)

English Meaning - prediction, forecast, projection.

33.easing (noun)

English Meaning - reduction, moderation, lessening, decrease.

34.crop (noun)

English Meaning - a plant that is grown in large quantities.

35.ease (verb)

English Meaning - decrease, reduce, lower, moderate.

36.room (noun)

English Meaning - scope, leeway, latitude; opportunity, chance.

37.given (preposition)

English Meaning - considering, taking into account, bearing in mind.

38.spike (noun)

English Meaning - a sharp rise/increase of something.

39.in the wake of (phrase)

English Meaning - as a result of, in the aftermath of, as a consequence of.

40.edible oil (noun)

English Meaning - cooking oil; fat of plant, animal or microbial origin, which is liquid at room temperature and is suitable for food use.

41.war-torn (adjective)

English Meaning - (of a place) devastated, ruined, wrecked (by war).

42.run (verb)

English Meaning - operate, function, work, go.

43.broad-based (adjective)

English Meaning - wide-ranging, comprehensive, general.

44.disconcertingly (adverb)

English Meaning - unsettlingly, disturbingly, worryingly.

45.way (adverb)

English Meaning - extremely, very, really.

46.pump price (noun)

English Meaning - the retail selling price of petrol/diesel (to the public).

47.reflect (verb)

English Meaning - indicate, show, reveal, demonstrate, exhibit.

48.upsurge (noun)

English Meaning - sudden increase, rise, growth, inflation.

49.invasion (noun)

English Meaning - occupation, conquering, capture, seizure, annexation, annexing, takeover.

50.neighbour (noun)

English Meaning - a country that is next to another country; (bordering) country.

51.certain (adjective)

English Meaning - sure, very likely, bound, inevitable.

52.climb (verb)

English Meaning - increase, rise, go up.

53.state-run (adjective)

English Meaning - (state) government-owned.

54.reset (verb)

English Meaning - re-establish.

55.crude oil (noun)

English Meaning - the raw natural resource that is extracted from the earth and refined into products such as gasoline, jet fuel, diesel and other petroleum products.

56.basket (noun)

English Meaning - a group of something (taxes, investments, commodities, etc.).

57.uncharted (adjective)

English Meaning - unexplored, unknown, unfamiliar, strange.

58.territory (noun)

English Meaning - area of concern, area of interest, area of knowledge.

59.uncharted territory/zone (phrase)

English Meaning - unknown area.

60.on account of (phrase)

English Meaning - because of, owing to, due to, as a result of.

61.weaken (verb)

English Meaning - lessen, decrease, dwindle, diminish.

62.conflict (noun)

English Meaning - war, armed conflict, battle, fighting.

63.front (noun)

English Meaning - a particular situation; a particular sphere of activity.

64.glance (noun)

English Meaning - brief look, glimpse, sight.

65.energy basket (noun)

English Meaning - it is usually comprised of several commodities. Coal, natural gas, biomass and uranium are responsible for most nations’ electricity generation while petroleum and its products dominate the transportation sector.

66.accelerate (verb)

English Meaning - speed up, quicken, step up.

67.presage (verb)

English Meaning - augur, portend, indicate.

68.cite (verb)

English Meaning - invoke, refer to, adduce, resort to.

69.headroom (noun)

English Meaning - scope, clearance, extent.

70.household (noun)

English Meaning - family, house.

71.far from (phrase)

English Meaning - not, not at all; nowhere near, a long way from.