verb (v)

• collapse by releasing contained air or gas(verb.contact)

  Example:
  Deflate a balloon.
  

  source: wordnet30
• release contained air or gas from(verb.contact)

  Example:
  Deflate the air mattress.
  

  source: wordnet30
• reduce or lessen the size or importance of(verb.communication)

  Example:
  The bad review of his work deflated his self-confidence.
  

  Synonym:
  puncture
  

  source: wordnet30
• produce deflation in(verb.change)

  Example:
  The new measures deflated the economy.
  

  source: wordnet30
• reduce or cut back the amount or availability of, creating a decline in value or prices(verb.change)

  Example:
  Deflate the currency.
  

  Antonym:
  inflate
  

  source: wordnet30
• become deflated or flaccid, as by losing air(verb.change)

  Example:
  The balloons deflated.
  

  Antonym:
  blow up, inflate
  

  source: wordnet30
• To reduce from an inflated condition.(verb)

  source: webster1913