"depreciative" in the adjective sense
1. depreciating, depreciative, depreciatory
tending to decrease or cause a decrease in value
"a depreciating currency"
"depreciatory effects on prices"
2. belittling, deprecating, deprecative, deprecatory, depreciative, depreciatory, slighting
tending to diminish or disparage
"belittling comments"
"managed a deprecating smile at the compliment"
"deprecatory remarks about the book"
"a slighting remark"
Source: WordNet® (An amazing lexical database of English)
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