understatement
n
1
(=underestimate)
[+of rate, level, growth] subestimación f
these figures are an understatement estas cifras son una subestimación
2
(=not exaggeration)
I think that's something of an understatement creo que eso es quedarse corto
to say I'm disappointed is an understatement decir que estoy desilusionado es quedarse corto
interesting? that's the understatement of the year! ¿interesante? ¡eso es quedarse corto!
3
(=restraint) moderación f
typical British understatement la típica moderación británica, el típico comedimiento británico frm
Translation English - Spanish Collins Dictionary  

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"Collins Spanish Dictionary 8th edition published in 2005 © William Collins Sons & Co Ltd 1971, 1988 © HarperCollins Publishers 1992, 1993, 1996, 1997, 2000, 2003, 2005"