The following is the list of labels we use the descriptions. Soon, the owners for each label will be updated.

LABEL NAME	Meaning
COMPONENT LABELS
component/agent	Related to the agent
component/api	Related to the API
component/config	Related to configuration and CLI flags.
component/documentation	Related to documentation.
component/notify	Related to alerts and alert-manager.
component/promql	Related to the query language.
component/promtool	Related to promtool.
component/remote storage	Related to remote storage.
component/rules	Related to recording and alerting rules.
component/service discovery	Related to service discovery
component/tests	Related to tests
component/tsdb	Related to the TSDB
component/ui	Related to UI
KIND LABELS
kind/bug	A confirmed bug in Prometheus.
kind/cleanup	For refactorings, removing old config/flag, etc.
kind/enhancement	For feature requests.
kind/more-info-needed	When we require info from author, for reproducing the bug, etc.
kind/question	For questions related to usage/best practices. Best asked in mailing-list.
PRIORITY LABELS
priority/P0	Next one or two releases.
priority/P1	Next 3 months.
priority/P2	Next 6-8 months.
priority/P3	Nice to have but no timeline.
priority/Pmaybe	Still under discussion, not accepted yet.
Misc. Labels
help-wanted	We really want this feature but don't have the time to do it. Will accept/mentor contributions.
low hanging fruit	For newcomers to Prometheus code-base. Mentoring is available.
not-as-easy-as-it-looks	Issues that require context and are not trivial.
wont-fix	Issues/Feature requests that are anti-patterns or out of scope..