Hindi English Translation || Editorial || Stay watchful: On October inflation data

Stay watchful: On October inflation data

Policymakers can ill-afford to drop their guard in the fight against inflation (मुद्रा स्फ़ीति)

October’s inflation data point to (इशारा करना, इंगित करना) a welcome softening (नरम करना, कमी) in price gains that should offer some succour ((financial) help, aid, assistance, relief) to monetary policy (मौद्रिक नीति) authorities (प्राधिकारी, अधिकारी वर्ग), who have been battling (struggle, strive, work, toil (to achieve something)) to rein in (to control, restrain, restrict, limit someone/something) runaway inflation since the beginning of this year. Retail inflation, or price gains (a general increase in the price of something) based on the Consumer Price Index (उपभोक्ता मूल्य सूचकांक), slowed to 6.77% last month, from September’s 7.41%, aided (सहायता, समर्थन) by an appreciable (प्रशंसनीय, विचारणीय, महत्वपूर्ण) deceleration (गिरावट, मंदी) in food price inflation (खाद्य मूल्य मुद्रास्फीति). The year-on-year (साल दर साल) inflation based on the Consumer Food Price Index (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) eased by almost 160 basis points (बुनियादी निर्देश) in October, to 7.01%, from the preceding (पिछला, पूर्व, पहले) month’s 8.60%, helped by a “decline in prices of vegetables, fruits, pulses (edible seeds (chickpeas, lentils, beans). (dals)) and oils and fats”, the Government said. With the food and beverages (a drink, such as tea, coffee, liquor, beer, milk, juice, or soft drinks, usually excluding water) sub-index (sub-indicator) representing almost 46% of the CPI’s weight (larger number, bulk, lion’s share), the slowdown (decline, slump, depression) in food price gains understandably steered overall inflation lower even as (while, at the same time) price gains in three other essential categories, namely clothing and footwear, housing, and health, remained either little changed from September or quickened (accelerate, hasten, step up). Inflation at the wholesale prices level also continued to decelerate (slow down, reduce, lessen, slow up), with the headline (pronounced, marked, striking, glaring, obvious, impressive) reading easing into single digits for the first time in 19 months. A favourable base effect (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) along with a distinct cooling (reduction, decrease, lessening, diminishing) in international prices of commodities including crude oil (the raw natural resource that is extracted from the earth and refined into products such as gasoline, jet fuel, diesel and other petroleum products) and steel amid gathering uncertainty (unpredictability, unreliability, riskiness/precariousness) in advanced economies was largely instrumental (influential, contributory, significant, important, good, helpful, useful) in tempering (moderate, tone down, mitigate, decrease, lessen) wholesale price gains.

Still, a closer look at sequential trends in retail inflation, especially in food items, flag (indicate, identify, point out) the imperative (necessary condition, precondition, condition, essential requirement) for policymakers to remain watchful (सतर्क, सावधान). While year-on-year inflation in vegetable prices slowed sharply to 7.77% last month, from September’s breathless (exhausted, choking, gasping) 18% pace, the month-on-month (used to compare data for one month with that in previous months) gains accelerated to a four-month high of 4.1% and point to concerns that the supply disruptions caused by unseasonal rains in vegetable-growing regions as well as logistical (relating to organization and planning of something) difficulties posed (constitute, present, create, cause (a problem or danger or risk)) by monsoon flooding may continue to keep prices volatile (unpredictable, turbulent, uncertain, inconstant), at least in the near term (period, time). Prices of staple (main, principal, major, primary, leading, foremost, most important) cereals (a grain or plants that produce it (for example-wheat, maize, rice & etc.)) including rice and wheat also remain an object of concern, notwithstanding (despite, in spite of, regardless of) the Government’s concerted (involving a lot of people coming together & doing something with great effort; strenuous, vigorous, energetic, determined, active, intense; coordinated, collaborative, collective, combined, joint) efforts to cool volatility (unpredictability, instability, unreliability) using export control measures (action, step, procedure). While inflation in the largest weight in the food basket (a group of something (taxes, investments, commodities, etc.)) ticked up to 12.1% in October, from the previous month’s 11.5%, sequentially (in succession, successively, continuously), price gains came in at 1%, moderating in pace from September. Reports of paddy crops being submerged (flood, inundate, deluge, engulf, swamp, immerse) or affected by heavy rains in different parts of the country coupled with (combine, connect, link) the shortages of wheat and flour that have pushed up their prices all signal more volatility ahead in cereal prices. With S&P Global’s (the world’s foremost provider of credit ratings, benchmarks and analytics in the global capital and commodity markets, offering ESG solutions, deep data and insights on critical economic, market and business factors. It is an American publicly traded corporation headquartered in Manhattan, New York City) latest Business Outlook survey pointing to an intensification (deterioration, aggravating, compounding) of wage pressures and producer pass-through (passing on a cost to a customer) of costs, authorities can ill-afford to drop their guard in the fight against inflation.

Courtesy: The Hindu

Important Word List With Meaning

1.watchful (adjective)

Hindi Meaning - सतर्क, सावधान
English Meaning - careful, cautious, heedful, alert, vigilant, attentive.

2.inflation (noun)

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

3.point to (phrasal verb)

Hindi Meaning - इशारा करना, इंगित करना
English Meaning - indicate, suggest, signal, signify, denote, reveal.

4.softening (noun)

Hindi Meaning - नरम करना, कमी
English Meaning - decrease, reduction, lessening, moderation.

5.monetary policy (noun)

Hindi Meaning - मौद्रिक नीति
English Meaning - 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.

6.authorities (noun)

Hindi Meaning - प्राधिकारी, अधिकारी वर्ग
English Meaning - officials, officialdom, the people in charge, the government the bureaucracy.

7.Consumer Price Index (CPI) (noun)

Hindi Meaning - उपभोक्ता मूल्य सूचकांक
English Meaning - 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.

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.aid (verb)

Hindi Meaning - सहायता, समर्थन
English Meaning - help, assist, support.

10.appreciable (adjective)

Hindi Meaning - प्रशंसनीय, विचारणीय, महत्वपूर्ण
English Meaning - sizeable, considerable, significant,.

11.deceleration (noun)

Hindi Meaning - गिरावट, मंदी
English Meaning - slowing down, easing off, reduction, diminishing, lessening.

12.food price inflation (noun)

Hindi Meaning - खाद्य मूल्य मुद्रास्फीति
English Meaning - the rise in the prices of most goods and services of food & related things.

13.year-on-year (adjective)

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

14.basis point (BPS) (noun)

Hindi Meaning - बुनियादी निर्देश
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.

15.preceding (adjective)

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

16.can ill-afford (phrase)

English Meaning - to prevent something from happening because it would be embarrassing and cause problems (if it happens).

17.drop one’s guard (phrase)

English Meaning - to become less careful, to become less vigilant, to become less alert.

18.welcome (adjective)

English Meaning - pleasing, agreeable, heartening, promising, much needed.

19.price gain (noun)

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

20.succour (noun)

English Meaning - (financial) help, aid, assistance, relief.

21.battle (verb)

English Meaning - struggle, strive, work, toil (to achieve something).

22.rein in (phrasal verb)

English Meaning - to control, restrain, restrict, limit someone/something.

23.runaway (adjective)

English Meaning - unconstrained, uncontrolled, unrestricted, unchecked, rampant.

24.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.

25.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.

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

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.

27.ease (verb)

English Meaning - lessen, reduce, moderate.

28.pulses (noun)

English Meaning - edible seeds (chickpeas, lentils, beans). (dals).

29.beverage (noun)

English Meaning - a drink, such as tea, coffee, liquor, beer, milk, juice, or soft drinks, usually excluding water.

30.sub-index (noun)

English Meaning - sub-indicator.

31.weight (noun)

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

32.slowdown (noun)

English Meaning - decline, slump, depression.

33.steer (verb)

English Meaning - guide, conduct, direct/take.

34.even as (phrase)

English Meaning - while, at the same time.

35.quicken (verb)

English Meaning - accelerate, hasten, step up.

36.decelerate (verb)

English Meaning - slow down, reduce, lessen, slow up.

37.headline (adjective)

English Meaning - pronounced, marked, striking, glaring, obvious, impressive.

38.reading (noun)

English Meaning - figure, indication, record, measurement (in a metre).

39.base effect (noun)

English Meaning - 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.

40.cooling (noun)

English Meaning - reduction, decrease, lessening, diminishing.

41.uncertainty (noun)

English Meaning - unpredictability, unreliability, riskiness/precariousness.

42.gathering (adjective)

English Meaning - gaining.

43.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.

44.amid (preposition)

English Meaning - in the middle of, surrounded by; during.

45.instrumental (adjective)

English Meaning - influential, contributory, significant, important, good, helpful, useful.

46.temper (verb)

English Meaning - moderate, tone down, mitigate, decrease, lessen.

47.sequential (adjective)

English Meaning - happened in sequence/order/succession.

48.flag (verb)

English Meaning - indicate, identify, point out.

49.imperative (noun)

English Meaning - necessary condition, precondition, condition, essential requirement.

50.breathless (adjective)

English Meaning - exhausted, choking, gasping.

51.month-on-month (adjective)

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

52.logistical (adjective)

English Meaning - relating to organization and planning of something.

53.pose (verb)

English Meaning - constitute, present, create, cause (a problem or danger or risk).

54.volatile (adjective)

English Meaning - unpredictable, turbulent, uncertain, inconstant.

55.term (noun)

English Meaning - period, time.

56.staple (adjective)

English Meaning - main, principal, major, primary, leading, foremost, most important.

57.cereal (noun)

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

58.object of concern (phrase)

English Meaning - a matter of concern; something which is of particular interest to someone.

59.notwithstanding (preposition)

English Meaning - despite, in spite of, regardless of.

60.concerted (adjective)

English Meaning - involving a lot of people coming together & doing something with great effort; strenuous, vigorous, energetic, determined, active, intense; coordinated, collaborative, collective, combined, joint.

61.cool (verb)

English Meaning - lessen, moderate, abate, diminish, reduce, dampen.

62.volatility (noun)

English Meaning - unpredictability, instability, unreliability.

63.measure (noun)

English Meaning - action, step, procedure.

64.basket (noun)

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

65.tick up (phrasal verb)

English Meaning - to increase.

66.sequentially (adverb)

English Meaning - in succession, successively, continuously.

67.come in at (phrasal verb)

English Meaning - to cost a specific amount.

68.moderate (verb)

English Meaning - lessen, decrease, diminish.

69.submerge (verb)

English Meaning - flood, inundate, deluge, engulf, swamp, immerse.

70.couple with (verb)

English Meaning - combine, connect, link.

71.push up (phrasal verb)

English Meaning - increase, raise.

72.S&P Global (noun)

English Meaning - the world’s foremost provider of credit ratings, benchmarks and analytics in the global capital and commodity markets, offering ESG solutions, deep data and insights on critical economic, market and business factors. It is an American publicly traded corporation headquartered in Manhattan, New York City.

73.outlook (noun)

English Meaning - expectations, prospects, hopes, future, lookout.

74.intensification (noun)

English Meaning - deterioration, aggravating, compounding.

75.pass-through (noun)

English Meaning - passing on a cost to a customer.