A statistical factor designed to remove the effect of inflation; inflation adjusted variables are in constant dollars WordNet 3.0 & Open English WordNet

In statistics, a deflator is a value that allows data to be measured over time in terms of some base period, usually through a price index, in order to distinguish between changes in the money value of a gross national product that come from a change in prices, and changes from a change in physical output. Wikipedia

A factor applied to economic statistics in order to counter the effect of inflation. Wiktionary