Meaning

noun (geology) the erosion of soil as a consequence of sand and dust and loose rocks being removed by the wind

noun a contraction of economic activity resulting in a decline of prices

noun the act of letting the air out of something

originEtymology tree English deflate Proto-Indo-European *-tis Proto-Indo-European *-Hō Proto-Indo-European *-tiHō Proto-Italic *-tiō Latin -tiō Latin -ātiōlbor. Old French -ationbor. Middle English -acioun English -ation English -ion English deflation From deflate + -ion.

Etymology from Wiktionary, CC BY-SA 3.0