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Noun: deflation  di'fley-shun
  1. (geology) the erosion of soil as a consequence of sand and dust and loose rocks being removed by the wind
    "a constant deflation of the desert landscape"
  2. A contraction of economic activity resulting in a decline of prices
  3. The act of letting the air out of something

Derived forms: deflations

Type of: decrease, degradation, diminution, eating away, economic process, eroding, erosion, reduction, step-down, wearing, wearing away

Antonym: disinflation, inflation

Encyclopedia: Deflation