deflation

deflate +‎ -ion.

• (UK) IPA^(key): /dɪˈfleɪʃən/
• Rhymes: -eɪʃən

deflation (countable and uncountable, plural deflations)

1. An act or instance of deflating.

   The loss caused utter deflation and disappointment among the fans.

2. (economics) A decrease in the general price level, that is, in the nominal cost of goods and services as well as wages.
3. (economics, euphemistic) An economic contraction.
   • 1969 March 13, “Stans to seek foreign trade”, in Christian Science Monitor:

     Beyond that, there is the hope that deflation of the US economy which the administration has in mind will, overtime; stem the import flood.

   • 1976 October 11, “Unions Hold Key To British Stability”, in Milwaukee Sentinel:

     It also must be acknowledged that Britain's problems won't be solved by an abrupt deflation of the economy.

   • 1978 June 3, “Valley Pipe Dream Wrecked Economy”, in Calgary Herald:

     The great deflation of the northern economy occurred with the rupturing of the Mackenzie Valley pipe dream.

• (decrease in price level): disinflation
• (economic contraction): impoverishment

• inflation

• deflationary

• defoliant