Deflation

[dɪ'fleɪʃ(ə)n] or [dɪ'fleʃən]

Definition

(noun.) the act of letting the air out of something.

(noun.) a contraction of economic activity resulting in a decline of prices.

(noun.) (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'.

Checker: Muriel--From WordNet