deflationary UK /dɪˈfleɪ.ʃən.ɹi/US /dəˈfleɪ.ʃənˌɛɹ.i/ adjective2 •Associated with or tending to cause deflation. •Belonging or relating to a family of theories claiming that assertions that predicate truth of a statement do not attribute a property called truth to such a statement.