deflate

(dĭ-flātˈ)

1. a. To release contained air or gas from.
   b. To collapse by releasing contained air or gas.
2. To reduce or lessen the size or importance of: Losing the contest deflated my ego.
3. Economics
   a. To reduce the amount or availability of (currency or credit), effecting a decline in prices.
   b. To produce deflation in (an economy).

Related Forms:

• de·flaˈtor noun