DictionarydeflationFalling prices
noun

deflation

dee-FLAY-shun/ˌdiːˈfleɪʃn/

The loss of air from an inflated object.

The balloon becomes smaller and wrinkled through deflation as air escapes.

Two-stage view of the same red balloon: initially round and inflated, then visibly smaller and wrinkled with its neck open, showing a decrease in volume through loss of air.
Etymology

Deflate originally referred to letting air out of balloons. Deflation carries that image of shrinking something inflated into decreases in prices, volume, or emotional intensity.

In context

Saint Lucia Government44:31
we had some years of um what we call deflation where price actually declined
Public Consultation on Inflation

More examples

  • The balloon's slow deflation leaves it soft and wrinkled.
  • Open the air mattress valve for faster deflation.
  • Complete deflation makes the raft easier to fold.

Forms

deflate verb — To lose air or release it.

Similar words

leakage
Emphasizes air escaping through a hole or faulty seal.
venting
Usually means deliberately releasing air through an opening.