Privacy - private

• The adjective and noun private are both pronounced with a diphthongal -i- of 'I': 'PREYE-vet'. IPA: /ˈpraɪ vət/.
• In the abstract noun privacy, meaning 'the state of being private', traditional British English changes the sound of the vowel '-i-' to the short '-i' of 'it', 'is' and 'in': 'PRIVV-acy', /ˈprɪ vəs ɪ/. There is a growing habit of pronouncing it with the first vowel of 'private'.
  • American English, according to both LPD and OED, retains the diphthongal vowel of 'private': 'PREYE-vess-y'. IPA: /ˈpraɪ vəs ɪ/. This pronunciation is likely to prove unacceptable to many British academics.

Note that the pronunciation of piracy does not follow the same pattern.

For a discussion of the meaning of 'private' and related words, go to Deprivation - Private - privation - privilege - privity - privy.