un·der·state

[uhn-der-steyt]
verb (used with object), un·der·stat·ed, un·der·stat·ing.
to state or represent less strongly or strikingly than the facts would bear out; set forth in restrained, moderate, or weak terms: The casualty lists understate the extent of the disaster.

Origin:
1815–25; under- + state

un·der·state·ment [uhn-der-steyt-muhnt, uhn-der-steyt-] , noun
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2013.
Cite This Source Link To understate
00:10
Understate is always a great word to know.
So is ninnyhammer. Does it mean:
a scrap or morsel of food left at a meal.
a fool or simpleton; ninny.
Collins
World English Dictionary
understate (ˌʌndəˈsteɪt) [Click for IPA pronunciation guide]
 
vb
1.  to state (something) in restrained terms, often to obtain an ironic effect
2.  to state that (something, such as a number) is less than it is

Collins English Dictionary - Complete & Unabridged 10th Edition
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Example sentences
The number may understate activity somewhat, as many factories have turned to
  temporary workers.
And, quite frankly, much of the problem is that they tend to use it in a way
  that they either overstate it or understate it.
When making your ratings, please do not overstate or understate your level of
  experience and capability.
In other words, price indexes are biased to understate actual cost of living
  increases.
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