Deflate meaning

dĭ-flāt'
To reduce or lessen the size or importance of.

Losing the contest deflated my ego.

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To release contained air or gas from.
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To collapse by releasing contained air or gas.
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To reduce the amount or availability of (currency or credit), effecting a decline in prices.
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To produce deflation in (an economy).
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To be or become deflated.

The balloon deflated slowly.

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To collapse by letting out air or gas.

To deflate a tire.

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To make or become smaller or less important.
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To cause deflation of (currency, prices, etc.)
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To cause an object to decrease or become smaller in some parameter, e.g. to shrink.
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(economics) To reduce the amount of available currency or credit and thus lower prices.
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(intransitive) To become deflated.
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To let down or disappoint.
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Origin of deflate

de– (in)flate