Verb
1. collapse by releasing contained air or gas;
"deflate a balloon"2. release contained air or gas from;
"deflate the air mattress"3. reduce or lessen the size or importance of;
"The bad review of his work deflated his self-confidence"4. produce deflation in;
"The new measures deflated the economy"5. reduce or cut back the amount or availability of, creating a decline in value or prices;
"deflate the currency"6. become deflated or flaccid, as by losing air;
"The balloons deflated"