Deflationary refers to a situation that leads to lower prices and a decrease in the overall cost of living. To describe such a scenario, other terms that can be used include: contractionary, disinflationary, and recessionary. Contractionary implies a reduction in economic growth and increased regulation, whereas disinflationary denotes a slowing-down in the rate of inflation. Recessionary means an economic downturn, leading to a decrease in the production of goods and services. Other synonyms for deflationary may include terms such as depressionary, slump-like, and stagnation-driven, all of which depict an economy experiencing downward pressure on prices and output levels.