depreciative

from WordNet (r) 3.0 (2006)

depreciative
    adj 1: tending to decrease or cause a decrease in value; "a
           depreciating currency"; "depreciatory effects on prices"
           [syn: {depreciating}, {depreciative}, {depreciatory}]
    2: tending to diminish or disparage; "belittling comments";
       "managed a deprecating smile at the compliment"; "deprecatory
       remarks about the book"; "a slighting remark" [syn:
       {belittling}, {deprecating}, {deprecative}, {deprecatory},
       {depreciative}, {depreciatory}, {slighting}]

from The Collaborative International Dictionary of English v.0.48

Depreciative \De*pre"ci*a`tive\ (d[-e]*pr[=e]"sh[i^]*[=a]`t[i^]v
   or d[-e]*pr[=e]"sh[.a]*t[i^]v), a.
   Tending, or intended, to depreciate; expressing depreciation;
   undervaluing. -- {De*pre"ci*a`tive*ly}, adv.
   [1913 Webster]