n.
Pronunciation: di- ' fl ā -sh ə n, ˌ d ē -
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 \ -sh ə - ˌ ner- ē \ adjective