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depreciative (adj.)

"tending to undervalue," 1816; see depreciate + -ive. Related: Depreciatively.

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Definitions of depreciative from WordNet

depreciative (adj.)
tending to decrease or cause a decrease in value;
Synonyms: depreciating / depreciatory
depreciative (adj.)
tending to diminish or disparage;
Synonyms: belittling / deprecating / deprecative / deprecatory / depreciatory / slighting
From wordnet.princeton.edu