Cryptic crossword clue
Inflation may result from cut back to going rate, perhaps 12

The most common and most likely answer to this crossword clue is the 12 letter word EXAGGERATION

I've seen this crossword clue in The Daily Telegraph
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The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.
This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.

What does EXAGGERATION mean?

EXAGGERATION noun
  1. The act of heaping or piling up.
  2. The act of exaggerating; the act of doing or representing in an excessive manner; a going beyond the bounds of truth, reason, or justice; a hyperbolical representation; hyperbole; overstatement.
  3. A representation of things beyond natural life, in expression, beauty, power, vigor.

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