Hindi English Translation || Editorial || Little respite: On food price gain

Little respite: On food price gain

Food inflation continues to undermine (कमज़ोर करना) wider price stability (मूल्य स्थिरता)

April’s retail inflation (मुद्रास्फीति) data flattered to deceive. The Consumer Price Index (CPI) (उपभोक्ता मूल्य सूचकांक)-based provisional (अनंतिम, अस्थायी) headline print shows year-on-year (साल-दर-साल) retail price gains (मूल्य वृद्धि), across the broad spectrum (wide range, gamut, ambit) of goods and services that combine to constitute (गठन करना) the CPI, slowed fractionally (थोड़ा बहुत) to a 11-month low of 4.83%, from March’s 4.85%. This slowing, however, did little to mask (छिपाना) the more disconcerting (चिंताजनक) acceleration (तेजी) in food price gains. Inflation based on the Consumer Food Price Index (CFPI) (उपभोक्ता खाद्य मूल्य सूचकांक) quickened (accelerate, step up, increase, surge, rise) by 18 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 the preceding (पिछला, पहले) month’s year-on-year pace (rate, speed) to a four-month high of 8.7%, with the month-on-month (used to compare data for one month with that in previous months) rate accelerating to 0.74%, from 0.16% in March. Rural consumers fared (perform, do, manage, get on, get along) worse than their urban counterparts (someone or something that has the same job or purpose as another; equivalent, equal, fellow) with both food and broader headline inflation (it is a measure of the total inflation within an economy, including commodities such as food and energy prices) reflecting faster price gains. The CPI-based reading (analysis, account, explanation; indication, measurement) for the hinterland (remote areas of a country away from the coastal areas/the banks of major rivers) was still well above the 5% mark (level, stage) at 5.43%, while inflation in urban areas was a sharply lower 4.11%, reflecting (indicate, display, show, reveal, disclose, exhibit) the widening (increasing, enlarging, expanding, broadening) divergence (variation, deviation, dissimilarity, unevenness, contradiction) in the impact that price gains are having on those already struggling from the hit (blow, damage, shock, crush) to the rural economy from a weak monsoon last year and sizzling (extremely hot, baking (hot), scorching, blistering, searing, sweltering) temperatures this summer. Food price gains at 8.75% for rural consumers, a good 19 basis points faster than the 8.56% faced by urban consumers, is all the more disconcerting as food is an essential expenditure that every household (family, house) must try and find the means (way, method, mode) to meet.

The pressure on food prices remains wide-ranging, with cereals (a grain or plants that produce it (for example-wheat, maize, rice & etc.)) — the heaviest weight (larger number, bulk, lion’s share) in the food category — witnessing a 26 basis points quickening (increase, acceleration, stepping up) in inflation to 8.63%. Data from the Department of Consumer Affairs’ Price Monitoring Division shows the average price of rice was 14.3% steeper as on May 14 than on May 14, 2023. And the price of wheat was 6.4% higher from a year earlier, signalling (indicate, point to, denote, show, communicate) that respite (राहत) on the cereals front (a particular situation or a particular area of activity) is unlikely (doubtful, implausible, improbable, questionable) in the near term. April’s soaring (increasing, rising, escalating) temperatures also kept inflation in vegetables, particularly vulnerable (risky, unreliable, insecure) as perishable (easily spoilt, biodegradable; relating to items likely to decay quickly, especially foods) produce (all agricultural products), in double digits for a sixth straight month at 27.8%. Price gains in pulses (edible seeds (chickpeas, lentils, beans). (dals)) too offered little succour ((financial) help, aid, assistance, relief) as they extended their stay in double digits to an eleventh month. And the Consumer Affairs department’s data show prices of all the five key (vital, important, essential, crucial) dals — gram, tur, urad, moong and masoor — continued to rise appreciably (considerably, substantially, significantly) as on May 14. With live water storage at the country’s 150 reservoirs (a natural or artificial place (lake/pond/dam/etc.) where water is stored) dwindling to 27% of capacity as on May 9 and trailing (lag behind, fall behind, be down) both the year-earlier and 10-year average levels significantly, the outlook (prospects, chances, possibilities, expectations, future) for price stability rides almost entirely on the forecast (prediction, indication, projection, prognosis, speculation, calculation (of future events or trends)) ‘normal monsoon’ delivering spatially (used (in a way) to describe things relating to areas) and temporally well-distributed rains in the coming months.

Courtesy: The Hindu

Important Word List With Meaning

1.respite (noun)

Hindi Meaning - राहत
English Meaning - relief, relaxation, repose, break, pause, rest, interval; stoppage, cessation, discontinuation.

2.price gain (noun)

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

3.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.

4.undermine (verb)

Hindi Meaning - कमज़ोर करना
English Meaning - weaken, subvert, sabotage, damage.

5.price stability (noun)

Hindi Meaning - मूल्य स्थिरता
English Meaning - 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.

6.consumer price index (CPI) (noun)

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

7.provisional (adjective)

Hindi Meaning - अनंतिम, अस्थायी
English Meaning - temporary, short-term, transitional.

8.year-on-year (adjective)

Hindi Meaning - साल-दर-साल
English Meaning - year over year (for comparison).

9.constitute (verb)

Hindi Meaning - गठन करना
English Meaning - account for, form, comprise, make up, represent.

10.fractionally (adverb)

Hindi Meaning - थोड़ा बहुत
English Meaning - to a very small level/degree; slightly.

11.mask (verb)

Hindi Meaning - छिपाना
English Meaning - hide, conceal, veil, obscure, cover up.

12.disconcerting (adjective)

Hindi Meaning - चिंताजनक
English Meaning - upsetting, discomfiting, disturbing, unsettling, disquieting, troubling.

13.acceleration (noun)

Hindi Meaning - तेजी
English Meaning - increase, rise.

14.Consumer Food Price Index (CFPI) (noun)

Hindi Meaning - उपभोक्ता खाद्य मूल्य सूचकांक
English Meaning - 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.

15.preceding (adjective)

Hindi Meaning - पिछला, पहले
English Meaning - previous, prior, earlier.

16.retail inflation or consumer price index (CPI) inflation (noun)

English Meaning - 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.

17.flatter to deceive (phrase)

English Meaning - to appear better than it really is; (someone/something) looks promising (likely to be very good or successful), but disappoints eventually.

18.spectrum (noun)

English Meaning - wide range, gamut, ambit.

19.quicken (verb)

English Meaning - accelerate, step up, increase, surge, rise.

20.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.

21.pace (noun)

English Meaning - rate, speed.

22.month-on-month (adjective)

English Meaning - used to compare data for one month with that in previous months.

23.accelerate (verb)

English Meaning - increase, rise.

24.fare (verb)

English Meaning - perform, do, manage, get on, get along.

25.counterpart (noun)

English Meaning - someone or something that has the same job or purpose as another; equivalent, equal, fellow.

26.broader superlative adjective of broad (adjective)

English Meaning - comprehensive, extensive, wide, wide-ranging, broad-ranging.

27.headline inflation (noun)

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

28.core inflation (noun)

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

29.reflect (verb)

English Meaning - indicate, display, show, reveal, disclose, exhibit.

30.reading (noun)

English Meaning - analysis, account, explanation; indication, measurement.

31.hinterland (noun)

English Meaning - remote areas of a country away from the coastal areas/the banks of major rivers.

32.mark (noun)

English Meaning - level, stage.

33.widening (adjective)

English Meaning - increasing, enlarging, expanding, broadening.

34.divergence (noun)

English Meaning - variation, deviation, dissimilarity, unevenness, contradiction.

35.hit (noun)

English Meaning - blow, damage, shock, crush.

36.sizzling (adjective)

English Meaning - extremely hot, baking (hot), scorching, blistering, searing, sweltering.

37.household (noun)

English Meaning - family, house.

38.means (noun)

English Meaning - way, method, mode.

39.cereal (noun)

English Meaning - a grain or plants that produce it (for example-wheat, maize, rice & etc.).

40.weight (noun)

English Meaning - larger number, bulk, lion’s share.

41.quickening (noun)

English Meaning - increase, acceleration, stepping up.

42.Department of Consumer Affairs (noun)

English Meaning - 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.

43.steeper comparative adjective of steep (adjective)

English Meaning - sudden, sharp, rapid.

44.signal (verb)

English Meaning - indicate, point to, denote, show, communicate.

45.front (noun)

English Meaning - a particular situation or a particular area of activity.

46.unlikely (adjective)

English Meaning - doubtful, implausible, improbable, questionable.

47.soaring (adjective)

English Meaning - increasing, rising, escalating.

48.vulnerable (adjective)

English Meaning - risky, unreliable, insecure.