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deflation has no recorded synonym. Each sense below keeps its own list, because a synonym belongs to a meaning and not to a word: swapping one sense's substitute into another sense's sentence is how a thesaurus makes writing worse. Its 2 recorded opposites are inflation, disinflation.
Counts are distinct word forms across every sense. A synonym that appears under three senses is counted once here and shown three times below, under each sense it belongs to.
(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”
a contraction of economic activity resulting in a decline of prices
Synonyms, antonyms and the broader and narrower relations for deflation come from Princeton University’s WordNet. Full sources and licences.