The phrase "little exaggeration" means that something has been exaggerated, or made to seem more than it actually is, but only to a small extent. Full definition
Like the Trump sketches, there's little exaggeration here, but the presentation of this truth hits a lot closer to home. (rollingstone.com)
Some of the points might have been stated with a little exaggeration, but the point is nevertheless clear. (redeeminggod.com)
If we are to continue our run of playing each season in the CL — a run unsurpassed by any other team in Europe (a little exaggeration because RM are equal with us at 19), then a win tonight is vital. (arsenalarsenal.net)