A decrease in the general price level, that is, in the nominal cost of goods and services as well as wages.
the act of letting the air out of something
a contraction of economic activity resulting in a decline of prices
(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"
(geology) the erosion of soil as a consequence of sand and dust and loose rocks being removed by the wind
