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English definition of “deflation”

deflation

noun [U]
 
 
/dɪˈfleɪʃən/
ECONOMICS an economic situation in which prices fall and there is a reduction in wages and government spending, and low levels of growth: Global deflation is squeezing profits and extinguishing jobs. He warned that Euroland could sink into deflation unless the central bankers tailored their policies to promote economic growth. In monetary deflation, a contracting money supply causes prices and demand to decline.
a situation in which the value or price of something is reduced: The current deflation of home prices is having a profound effect on American society. The price of cars, computers, and dishwashers have all been falling as global deflation in traded goods gathers pace. asset deflation. → Compare disinflation, inflation, reflation
(Definition of deflation from the Cambridge Business English Dictionary © Cambridge University Press)
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