/ ˌdiːˈfleɪʃn; NAmE / noun [ U ]
1.
( economics ) a reduction in the amount of money in a country's economy so that prices fall or remain the same
2.
the action of air being removed from sth
OPP inflation
► de·fla·tion·ary / ˌdiːˈfleɪʃənri; NAmE -neri/ adjective :
deflationary policies
••
WORD ORIGIN
late 19th cent. (in the sense release of air from something inflated ): from deflate .