› [I or T] if prices, values, etc. correct or correct themselves, they change and become more normal after a period of being too high, too low, etc.: The market is positioned to correct and that is what's happening. Experts believe this is merely a slowdown in the economy that will correct itself. › [T] to change an amount, a calculation, etc. in order to make it more accurate, by considering certain facts: These figures have been corrected to allow for inflationcorrect sth for sth The mid-year review did not correct the accounts for exchange-rate fluctuation.