/ ɪnˈfleɪʃn; NAmE / noun [ U ]
1.
a general rise in the prices of services and goods in a particular country, resulting in a fall in the value of money; the rate at which this happens :
the fight against rising inflation
to control / curb inflation
to reduce / bring down inflation
a high / low rate of inflation
an inflation rate of 3%
Wage increases must be in line with inflation .
Inflation is currently running at 3%.
2.
the act or process of filling sth with air or gas :
life jackets with an automatic inflation device
OPP deflation
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WORD ORIGIN
Middle English (in the sense the condition of being inflated with a gas ): from Latin inflatio(n-) , from inflare blow in to, from in- into + flare to blow. Sense 1 dates from the mid 19th cent.