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Spending more francs in account (9)

Ross

I believe the answer is:

reflation

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'spending more' is the definition.
Although both the answer and definition are singular nouns, I can't understand how they can define each other.

'francs in account' is the wordplay.
'francs' becomes 'f' (this might be a standard abbreviation which I don't know about).
'in' indicates putting letters inside.
'account' becomes 'relation' (relation is a kind of account).
'f' put within 'relation' is 'REFLATION'.

Can you help me to learn more?

(Other definitions for reflation that I've seen before include "expansionary economic policy" , "economic measure" .)

I've seen this clue in The Times.
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