inflation UK /ɪnˈfleɪ.ʃn̩/US /ɪnˈfleɪ.ʃən/ noun4 •An act, instance of, or state of expansion or increase in size, especially by injection of a gas or liquid.The inflation of the balloon took five hours. •An increase in the quantity of money, leading to a devaluation of existing money, adjusted for by way of higher nominal values.Due to inflation, the monthly gym fee is rising by 10% from January. •Undue expansion or increase, as of academic grades. •An extremely rapid expansion of the universe, theorized to have occurred very shortly after the Big Bang. formsinflations