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Longman Dictionary of Contemporary English
reflation
noun
EXAMPLES FROM CORPUS
▪ But they differed over the emphasis they accorded to incomes policies, reflation, or tougher measures against the trade unions.
▪ No fewer than 364 economists signed a statement calling for a change of policy and traditional reflation.
▪ The fact that other economies are expanding adds an external stimulus to any internal impetus provided by reflation.
▪ The post-war period until the late 1970s witnessed governments playing a positive role in stimulating demand through reflation of the economy.
▪ They had a fiscal reflation for about two out of the six years of the 1990s and it was beginning to work.
Wiktionary
reflation

n. (context economics English) The act of restoring a deflated general level of prices to a previous or desired level.

WordNet
reflation

n. inflation of currency after a period of deflation; restore the system to a previous state

Wikipedia
Reflation

Reflation is the act of stimulating the economy by increasing the money supply or by reducing taxes, seeking to bring the economy (specifically price level) back up to the long-term trend, following a dip in the business cycle. It is the opposite of disinflation, which seeks to return the economy back down to the long-term trend.

Reflation, which can be considered a form of inflation (increase in the price level), is contrasted with inflation (narrowly speaking) in that "bad" inflation is inflation above the long-term trend line, while reflation is a recovery of the price level when it has fallen below the trend line. For example, if inflation had been running at a 3% rate, but for one year it falls to 0%, the following year would need 6% inflation (actually 6.09% due to compounding) to catch back up to the long-term trend. This higher than normal inflation is considered reflation, since it is a return to trend, not exceeding the long-term trend.

This distinction is predicated on a theory of economic growth where there is long-term growth in the economy and price level, which is widely accepted in economics. Just as disinflation is considered an acceptable antidote to high inflation, reflation is considered to be an antidote to deflation (which, unlike inflation, is considered bad regardless of its magnitude).