The Hindu Editorial Analysis
We all are aware of the importance of reading The Hindu newspaper with the aspect of improving reading ability, easily comprehending paragraphs, getting updated with the current events, improving essay writing and many more. For a banking aspirant it becomes necessary to read editorials for vocabulary. In this article we are going to discuss the points of today’s editorials with practice questions and important vocabs.
- After a seemingly interminable 10month streak of Indian consumers facing runaway price rise of over 6%, retail inflation appears to have relented a bit in November to 5.88%.
- This may only be slightly below the 6% upper tolerance threshold for the Reserve Bank of India (RBI), but constitutes some relief.
- Since April 2022, when retail prices surged at a near-eight year high rate of 7.8%, five of the first eight months of 2022-23 year registered 7%plus inflation.
- Sequentially, November’s 0.9 percentage point drop from October’s 6.77% mark is the sharpest moderation in this period, with a similar correction in rural inflation’s trajectory though it remains high at 6.1%.
- The Finance Ministry Termed this a ‘drastic decline’ mainly attributable to a sharp decrease in food price inflation brought about by government measures.
- Consumer food price inflation cooled to an 11 month low of 4.67% in November from over 7% in October.
- Vegetable prices accounted for most of the decline in food inflation-moving from 7.8% inflation in October to deflation of 8.1% last month, and plummering 8.3% month on month .
- Vegetable prices may remain benign for a bit, but are volatile by nature-excluding them, retail inflation would have accelerated to 7% in November, some reckon.
- There has been little respite on other household budget items, including essential kitchen supplies such as cereals, milk and spices, whose inflation rates accelerated to 13%,8.2% and 19.5% respectively.
- The government expects step to step to check cereals and pulses prices to be felt more significantly in coming months.
- Fuel inflation rebounded to 10.6% with kerosene and coal cost rising month on month.
- Price rise in transport , communication, health and household goods and services accelerated.
- About 56% of items in the consumer price index basket clocked over 6% inflation in November.
- That petrol pump prices remain frozen in India Means no gains will accrue to consumers from the dig in global crude oil prices, unless the daily price reset regime for petroleum products is allowed to function again. The Government could fix that for starters.
- Why did the Finance ministry termed it as a drastic decline?
- How are household material prices getting high?
- What are necessary steps that the government is taking to control it?
- Regime- a government specially authoritarian one
- Respite- a short period of rest from something that is difficult
- Interminable- lasting for a very long time
- Relented- to finally agree to something that has been refused
- Plummer- a pillow block