deflation

n. decrease in the quantity of money in circulation, increase in buying power, decrease in prices

Deflation is a decrease in the general price level over a period of time. Deflation is the opposite of inflation. For economists especially, the term has been and is sometimes used to refer to a decrease in the size of the money supply (as a proximate cause of the decrease in the general price level). The latter is now more often referred to as a 'contraction' of the money supply. During deflation the demand for liquidity goes up, in preference to goods or interest. During deflation the purchasing power of money increases. Deflation is considered a problem in a modern economy because of the potential of a deflationary spiral and its association with the Great Depression, although not all episodes of deflation correspond to periods of poor economic growth historically.
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Noun
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"
(hypernym) erosion, eroding, eating away, wearing, wearing away
(classification) geology
2. a contraction of economic activity resulting in a decline of prices
(antonym) inflation, rising prices
(hypernym) economic process
(derivation) deflate
3. the act of letting the air out of something
(antonym) inflation
(hypernym) decrease, diminution, reduction, step-down
(derivation) deflate

n. deflation, decrease in the quantity of money in circulation, increase in buying power, decrease in prices

n. deflation