The most common and most likely answer to this crossword clue is the 9 letter word DEFLATION
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Buddy explains!
The straight part
We know that "No, it is not inflation, just the opposite" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case no, it is not inflation, just the opposite = deflation.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 DEFLATION mean?
DEFLATION noun- An act or instance of deflating.
- A decrease in the general price level, that is, in the nominal cost of goods and services as well as wages.
- An economic contraction.