deflation

/dɪˈfleɪʃən/
noun
  1. A reduction in the general level of prices in an economy, often associated with a decrease in the supply of money or credit.
    • During deflation, consumers often delay purchases because they expect prices to fall further.
    • The country experienced a period of deflation after the financial crisis.
    • Economists worry that deflation can lead to a slowdown in economic growth.
  2. The act or process of letting air or gas out of something that is inflated.
    • The deflation of the hot air balloon took only a few minutes after landing.
    • The slow deflation of the tire caused the car to handle poorly.
    • Proper deflation of the inflatable raft is important for safe storage.
  3. A feeling of losing confidence, pride, or enthusiasm; discouragement.
    • His deflation at the rejection was visible on his face.
    • There was a sense of deflation in the room when the announcement was made.
    • The team's deflation was obvious after their star player got injured.
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