deflation vs reduction

deflation and reduction both are nouns.

Word	Noun	Adjective	Verb	Adverb
deflation	Yes	No	No	No
reduction	Yes	No	No	No

As nouns, reduction is a hypernym of deflation; that is, reduction is a word with a broader meaning than deflation:

Other hypernyms of deflation include decrease, diminution, step-down.

deflation (noun)	reduction (noun)
the act of letting the air out of something	the act of decreasing or reducing something
a contraction of economic activity resulting in a decline of prices	the act of reducing complexity
(geology) the erosion of soil as a consequence of sand and dust and loose rocks being removed by the wind	any process in which electrons are added to an atom or ion (as by removing oxygen or adding hydrogen); always occurs accompanied by oxidation of the reducing agent