Definition of deflation noun from the Oxford Advanced American Dictionary

     

    deflation

     noun
    noun
    NAmE//dɪˈfleɪʃn//
     
    , NAmE//ˌdiˈfleɪʃn//
     
    [uncountable]
     
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  1. 1(economics) a reduction in the amount of money in a country's economy so that prices fall or remain the same Topic CollocationsThe Economymanaging the economy handle/run/manage the economy boost investment/spending/employment/growth stimulate demand/the economy/industry cut/reduce investment/spending/borrowing reduce/curb/control/keep down inflation create/fuel growth/demand/a boom/a bubble encourage/foster/promote/stimulate/stifle innovation/competition encourage/work with/compete with the private sector increase/boost/promote U.S./agricultural exports ban/restrict/block cheap/foreign imports the economy grows/expands/shrinks/contracts/slows (down)/recovers/improves/is booming enjoy an economic/housing/property boomeconomic problems push up/drive up prices/costs/inflation damage/hurt/destroy industry/the economy cause/lead to/go into/avoid/escape recession experience/suffer a recession/downturn fight/combat inflation/deflation/unemployment cause/create inflation/poverty/unemployment create/burst a housing/stock market bubble cause/trigger a stock market crash/the collapse of the banking system face/be plunged into a financial/an economic crisis be caught in/experience cycles of boom and bustpublic finance cut/reduce/slash/increase/double the defense/education budget increase/boost/slash/cut public spending increase/raise/cut/lower/reduce taxes raise/cut/lower/reduce interest rates ease/loosen/tighten monetary policy balance the (state/federal) budget achieve/maintain a balanced budget run a ($4 trillion) budget deficit/surplus ⇨ more collocations at politics, voting
  2. 2the action of air being removed from something opposite inflation
deflationary
 
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NAmE//dɪˈfleɪʃəˌnɛri//
 
, NAmE//ˌdiˈfleɪʃəˌnɛri//
 
adjective deflationary policies
See the Oxford Advanced Learner's Dictionary entry: deflation