de·fla·tion 
(dĭ-flāshən)
(dĭ-flāshən)n.
1. The act of deflating or the condition of being deflated.
2. A persistent decrease in the level of consumer prices or a persistent increase in the purchasing power of money.
3. The lifting and removal of small, loose particles, especially silt and clay particles, by eddies of wind.
de·flation·ar′y (-shə-nĕr′ē) adj.
de·flation·ist n.