Main Entry: de·fla·tion

Pronunciation: \di-ˈflā-shən, ˌdē-\

Function: noun

Date: 1891

1 : an act or instance of deflating : the state of being deflated
2 : a contraction in the volume of available money or credit that results in a general decline in prices
3 : the erosion of soil by the wind

— de·fla·tion·ary \-shə-ˌner-ē\ adjective