A pressure reducer is designed for use in a liquid delivery system, which requires its liquid contents to be pressurized to a first, relatively high pressure but also requires that the liquid be delivered to a downstream location such as a faucet at a second, relatively low pressure. The pressure reducer reduces the pressure of the flowing liquid by repeatedly imparting directional changes to the liquid. It comprises a stationary restrictor having multiple aligned segments, each of which is configured to divide the liquid into two or more diverging streams and to recombine the streams at the end of the segment.