/in flay"sheuhn/ , n.
1. Econ. a persistent, substantial rise in the general level of prices related to an increase in the volume of money and resulting in the loss of value of currency (opposed to deflation ).
2. the act of inflating.
3. the state of being inflated.
[ 1300-50; ME inflacio ( u ) n inflation- (s. of inflatio ). See INFLATE, -ION ]