Definition of "Deflate" :

verb: become deflated or flaccid, as by losing air

"The balloons deflated."

verb: reduce or cut back the amount or availability of, creating a decline in value or prices

"Deflate the currency."

verb: produce deflation in

"The new measures deflated the economy."

verb: reduce or lessen the size or importance of

"The bad review of his work deflated his self-confidence."

verb: release contained air or gas from

"Deflate the air mattress."

verb: collapse by releasing contained air or gas

"Deflate a balloon."